[USDCHF Long] 22 Jan, 2021 - Roger V Trading Ideas
USDCHF
Entry Support level idea:
0.879000 Support
TP Resistance level idea:
Target 1: 0.895000
Target 2: 0.905000
Final SL for all Long positions:
0.872000 Support Level (Short Term)
0.867000 Support Level (Long term, final)
USDCHF Trading idea comment:
Major pairs include EURUSD, AUDUSD, GBPUSD, USDCAD, USDJPY, NZDUSD, and USDCHF.
These are the instrument pairs that have a possibility of strong correlated correlation between the US Dollar Index, referring to the article US dollar index written on the 21st Jan 2021 (Press here to read more)
USDCHF will still considered as a high risk pair, as US dollar index haven’t fully confirmed that it is going to bounce back up with US Dollar going strong. Therefore, particularly selecting USDCHF out of the major pair is due to its stop loss range is less comparing to other major pairs. It is good to give a try for the signal seen.
Note: If US Dollar Index was to successfully supported, the following hypothesis may be true.
Hypothesis:
By giving a hypothesis, if US Dollar was to be supported.
Understanding that USDCHF is strongly correlated with US dollar from previous written articles.
It is to expect that USDCHF might get support at 0.879000 support level.
If the result comes out in a positive result.
More likely, the trend may go in a direction to 0.895000.
Do expect that if it gets to the resistance level near 0.895000. There is possibility that it may not hit exactly at 0.895000, sometimes maybe before the forecast price 0.894000 or pass the forecast 0.895000 to even 0.89700 or such. Therefore, it is situation.
If USDCHF was able to go in the direction of 0.895000 resistance level, the trend may retrace in a bearish trend until it gets back to its initial entry support level 0.879000.
This is when USDCHF will be re-considered for a long position.
Worst Case Scenario:
Two options:
Can wait or ask Roger V on Roger V Diamond Club, to see if the trend is actually true breakout or false break.
If true breakout – try to find a lower loss to stop loss.
If false breakout – hold it, and carefully look at the weakening signal from M15 to H4. (Same method as looking at the weakening signal candlestick combination taught in group.)
Can stop loss straight away at the final SL, if the loss amount has gone over your expectation. (This is to be known before you make any orders.)
Best Case Scenario:
Trend does not breakout final SL of 0.867000 support level.
Once reach target 1 0.895000 and gets resisted and goes in a retracement. Re-entries for long position will be available among the new re-entry trading idea.
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(Note: The forecast above is an estimation of the resistance/ support level for the entry, TP, and SL. For more precise positions will depend on the shape formed with the candlestick at the time.)
--------------------
Disclaimer: ALuoTradingJournal does not provide any personal advice or general advice. This is only a journal to keep ALuo in noting the trades and what the market is going on as a trading journal. ALuo will not take any responsibility for any profits or losses. Please trade at your own risk.
Entry Support level idea:
0.879000 Support
TP Resistance level idea:
Target 1: 0.895000
Target 2: 0.905000
Final SL for all Long positions:
0.872000 Support Level (Short Term)
0.867000 Support Level (Long term, final)
USDCHF Trading idea comment:
Major pairs include EURUSD, AUDUSD, GBPUSD, USDCAD, USDJPY, NZDUSD, and USDCHF.
These are the instrument pairs that have a possibility of strong correlated correlation between the US Dollar Index, referring to the article US dollar index written on the 21st Jan 2021 (Press here to read more)
USDCHF will still considered as a high risk pair, as US dollar index haven’t fully confirmed that it is going to bounce back up with US Dollar going strong. Therefore, particularly selecting USDCHF out of the major pair is due to its stop loss range is less comparing to other major pairs. It is good to give a try for the signal seen.
Note: If US Dollar Index was to successfully supported, the following hypothesis may be true.
Hypothesis:
By giving a hypothesis, if US Dollar was to be supported.
Understanding that USDCHF is strongly correlated with US dollar from previous written articles.
It is to expect that USDCHF might get support at 0.879000 support level.
If the result comes out in a positive result.
More likely, the trend may go in a direction to 0.895000.
Do expect that if it gets to the resistance level near 0.895000. There is possibility that it may not hit exactly at 0.895000, sometimes maybe before the forecast price 0.894000 or pass the forecast 0.895000 to even 0.89700 or such. Therefore, it is situation.
If USDCHF was able to go in the direction of 0.895000 resistance level, the trend may retrace in a bearish trend until it gets back to its initial entry support level 0.879000.
This is when USDCHF will be re-considered for a long position.
Worst Case Scenario:
Two options:
Can wait or ask Roger V on Roger V Diamond Club, to see if the trend is actually true breakout or false break.
If true breakout – try to find a lower loss to stop loss.
If false breakout – hold it, and carefully look at the weakening signal from M15 to H4. (Same method as looking at the weakening signal candlestick combination taught in group.)
Can stop loss straight away at the final SL, if the loss amount has gone over your expectation. (This is to be known before you make any orders.)
Best Case Scenario:
Trend does not breakout final SL of 0.867000 support level.
Once reach target 1 0.895000 and gets resisted and goes in a retracement. Re-entries for long position will be available among the new re-entry trading idea.
--------------------
(Note: The forecast above is an estimation of the resistance/ support level for the entry, TP, and SL. For more precise positions will depend on the shape formed with the candlestick at the time.)
--------------------
Disclaimer: ALuoTradingJournal does not provide any personal advice or general advice. This is only a journal to keep ALuo in noting the trades and what the market is going on as a trading journal. ALuo will not take any responsibility for any profits or losses. Please trade at your own risk.
