BoonHooi
Short

USDCHF resistance at 0.9950

FX:USDCHF   U.S. Dollar/Swiss Franc
USDCHF             is at a resistance level (0.9950) - highs in May and July
Price seems to be stuck here for the 4th day today

Took a small short position.
There is a potential bearish Shark pattern completing at 0.9955/57

H4 AB=CD pattern completing at 0.9988, so stops has to go above this levels
H4 bearish divergence on the RSI - indicating an exhaustion move
Trade active: My initial position took a little scare as price spiked up to completed the ABCD. Took another short at 0.9988 at the ABCD completion. Now holding a full position short.
Trade active: Finally see this drop in the last few hours. Fingers crossed and shooting for the 0.9918 level
Comment: Still in the trade, nothing is giving me the indication to exit the trade. Stops still above the 1.0 handle at 1.0008. Can consider to tighten stops to 0.9980
Trade active: Price finally made a move down before the week ended on Friday. Shifted my SL to break even (now approx 60pips profits). Now I see a some retracement up, would not be surprised if it goes as high as 0.9913
Trade active: Tightened SL to 0.9918 (locking in at least +33pips), target remains at 0.9718. I would like to see price breaking the immediate support at 0.9857 & 0.9841
Comment: Tightened the SL by another 100 pips to 0.9818 (+133pips), target is at the TL support, readjusted TP to 0.9720. Since it is only 14pips away, I might close this trade at anytime.
Trade closed manually: Missed my targets by 6 pips. H1 RSI showing bullish divergence, I believe there will be some bounce up before this can break below the TL support. Manually closed my trade at 0.9745 (+205pips).
Hi BH, I'm also in this trade. Thanks for sharing your idea here.
Reply
Nice one girisuta. This last 14 pips is so near yet so far. H1 & H4 RSI so OS now, I might just close off the trade and not give back any profits
Reply
Hi BoonHooi,

I am waiting for price to go up a little more on this one before going short I would like it to reach the 1.01000 area to complete my Butterfly pattern at the extremes of the channel on the Daily time frame, and also to see some divergence on RSI. Here is my analyzes below. I might also be wrong since there is a strong resistance on the 1.00000 area which could be a significant area also. Watch my analyzes below.

snapshot


What do you think?
Good luck with your trade.
Reply
Hi Ibrincat,
Apologies..... scrolled down enough just to update my trades and didn't realised that I had a question here. Will not make this mistake again.
Agree with your Butterfly, it could have gone up to that level before it dropped (we will never know). If it did, I would have already been stopped out.
Reply
lbrincat BoonHooi
Hi BoonHooi,

No worry's it for the delay anyway I am happy for you that the trade turned out to be in your favor and you made some pips :) I will continue to follow you in future. I am currently learning about harmonics and following you will help a lot.

Regards
Reply
Great to be of help :)
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out