Going short on USDCHF after a double top on a higher timeframe and 2 shooting stars. (On a Daily Timeframe)
I got in on a 4H candle open. The entry signal really didn't matter to me on this trade because I'm trying to make trading as simple as possible.
If I see a closure on the 4H timeframe breaking a zone of support a retest up should hold as resistance. Plus a break in the the trendline. One thing I am concerned about is that right (or left) shoulder that looks like it's forming an Inverted H&S so I will watch out for that.
Entry : 0.93032
S/L: 0.93332 - 30 pips
T/P: Break in trendline so point A + psych level 0.92000
I got in on a 4H candle open. The entry signal really didn't matter to me on this trade because I'm trying to make trading as simple as possible.
If I see a closure on the 4H timeframe breaking a zone of support a retest up should hold as resistance. Plus a break in the the trendline. One thing I am concerned about is that right (or left) shoulder that looks like it's forming an Inverted H&S so I will watch out for that.
Entry : 0.93032
S/L: 0.93332 - 30 pips
T/P: Break in trendline so point A + psych level 0.92000