Snehath
Short

CHFJPY Quick Short Trade

FX:CHFJPY   Swiss Franc/Japanese Yen
CHFJPY             has shown a rejection at the high of last week. I hope for a quick 40-50 pips (Target 1 around 104.20)
before exiting the trade
Comment: Trade is switched to breakeven now
Comment: Pair has moved by +100 pips. Switch SL to 104.35
Comment: Trade closed with 80 + pips as soon as the line broke
Snehath prince125700
40 pips above X
Reply
beautiful.
can you explain the red line strategy?
Reply
NavidDavani NavidDavani
I guess it's a line from c crossing a specific ratio (.5, .618, .886 which one?) of the line parallel to XA from D?
I noticed this type of profit target is special feature of shark pattern among harmonic patterns.
Reply
Snehath NavidDavani
Its a simple trendline protection. Once it breaks above the line, I will take my profit. It is simply drawn with a 45 degree line from the candle you take the trade.
Reply
Snehath NavidDavani
I will also now draw an accelerated trendline joining the tops of the downward movement. If this breaks, I will exit the trade.
+1 Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out