RISK 1:13 REWARD!!!
What is my entry criteria for a NZDCHF LONG?
Reason:
Met my rules to confirm a Bullish Trend. This is my final chance entry to get long on this pair, with a high Reward to Risk this may not play out but overall it is a profitable strategy that I will continue to implement.
Confluence:
RSI We are not quite oversold on the daily as we are at 21 so its still low
Major level of now structure and support, looking left we can see multiple tests
Bullish Divergence on the 240 chart
Entry:
Double Bottom completion on the 60 chart
Stops:
Tight ATR below the low previous test, as we could just blow right through this stop and continue lower and breach my bullish trend rules (Hence the final chance entry)
Targets:
Target 1:
High of the previous close
Target 2:
Depending how we get to target 1 if we get to target 1, I will either trail based on structure if there is enough volume and momentum or cut the trade. Long way to go before this happens – if this happens
As always good luck in the markets,
TradeEasy.
What is my entry criteria for a NZDCHF LONG?
Reason:
Met my rules to confirm a Bullish Trend. This is my final chance entry to get long on this pair, with a high Reward to Risk this may not play out but overall it is a profitable strategy that I will continue to implement.
Confluence:
RSI We are not quite oversold on the daily as we are at 21 so its still low
Major level of now structure and support, looking left we can see multiple tests
Bullish Divergence on the 240 chart
Entry:
Double Bottom completion on the 60 chart
Stops:
Tight ATR below the low previous test, as we could just blow right through this stop and continue lower and breach my bullish trend rules (Hence the final chance entry)
Targets:
Target 1:
High of the previous close
Target 2:
Depending how we get to target 1 if we get to target 1, I will either trail based on structure if there is enough volume and momentum or cut the trade. Long way to go before this happens – if this happens
As always good luck in the markets,
TradeEasy.