I entered a nice setup on EUR/CHF that I want to share with you guys.
First off I'm more of a swing trader rather than a scalp trader. It's much easier for me to spot reversals, and I'm a very patient trader, as such swing trading is my favorite game. Okay, so let's get on with it.
On the daily we can see the price broke out of of a falling wedge, and price has tested the top of the wedge, which was previous resistance, now as current support. Add to that bullish RSI, bullish MACD cross, as well as a 3 soldier daily candle formation.
Then on the weekly the weekly RSI just made a bullish cross above the 30, and we can see the macd converging and prepping for a bullish cross. So I took a fib measurement from the top, which was at the first quarter of 2018, to the bottom (I hope it's the bottom...lol) and am aiming for the halfway point at the 50% fib. And I have place my stop below the low and have entered on the Bullish engulfing which is about to close for the week.
Let's see how this goes, but the confluence and technicals look really good. I'll be holding this till the end of the year.
Let's Go!!!
First off I'm more of a swing trader rather than a scalp trader. It's much easier for me to spot reversals, and I'm a very patient trader, as such swing trading is my favorite game. Okay, so let's get on with it.
On the daily we can see the price broke out of of a falling wedge, and price has tested the top of the wedge, which was previous resistance, now as current support. Add to that bullish RSI, bullish MACD cross, as well as a 3 soldier daily candle formation.
Then on the weekly the weekly RSI just made a bullish cross above the 30, and we can see the macd converging and prepping for a bullish cross. So I took a fib measurement from the top, which was at the first quarter of 2018, to the bottom (I hope it's the bottom...lol) and am aiming for the halfway point at the 50% fib. And I have place my stop below the low and have entered on the Bullish engulfing which is about to close for the week.
Let's see how this goes, but the confluence and technicals look really good. I'll be holding this till the end of the year.
Let's Go!!!
Comment:
Original entry in private group. So this trade is now risk free.
#EUR/CHF Take-Profit target 1️⃣✅
Profit: 9% 📈
Closed 20% of this position and moved stop to entry.
🥳🥳🥳 !!