The London session is in full force and the only solid trade setup we are trading today is USDCHF.
SL 0.98523 ( pips 14.2 )
TP 0.97870 ( pips 51.1 )
The RR is a solid 3.6 because the SL is pretty tight. I will look to move to break even and add on 5 pips after 20 pips in profit. Then Might re-think my TP as the contraction is...
USDCHF - Intraday - We look to Sell at 0.9955 (stop at 0.9985)
Levels close to the 61.8% pullback level of 1.0016 found sellers. Net daily losses of 85 pips. Yesterday's Marabuzo is located at 0.9955. Bespoke resistance is located at 0.9957. Previous support at 0.9958 now becomes resistance.
Our profit targets will be 0.9800 and 0.9780
Resistance: 0.9955 /...
Here we have a nice decending trendline and price action has been respecting the trendline for some time now and I'm expecting the same now as well. Price is also at a major level from where we ususally see a reverse. We can also see a bearish candle on the 4h chart which suggest a possible trend reversal.
I have gone short on this and marked tp...
Journal| Beta Project-R. Risk Management: Compound|k Level : PA |k Time:'Short-term'. This is just my view follow if it aligns with yours. Ideas are not repeated rather updated.Projections may be subject to failure.
USDCHF is currently on a downtrend after breaking an uptrend that tested our recent support line for the second time. Our downtrend has multiple wick rejections.
Price is currently sitting within our resistance zone, with a bearish candlestick that touched our trend line.
In addition, price action has reversed on the tight bullish uptrend (purple arrow) and lost momentum.