3:1 Reward to Risk Opportunity - USDCHF Short

U.S. Dollar/Swiss FrancFXCM

Description

⋅ Aug 31, 2016 9:07 AM

Potential USD CHF opportunity with good R:R

Reasons for Entry:
- Price finding resistance at previous High
- Bearish Candle formation
- RSI Overbought / Divergence

Target
- 3:1 Risk Reward

Stops
- Above previous High

If the first trade gets stopped out, wait and look for a long setup, targeting 0,99500.

Comments

thekwest

⋅ Aug 31, 2016 1:53 PM

Re-entering shorts at 0,9830. Same TP & SL

thekwest

⋅ Aug 31, 2016 12:25 PM

Trade Stopped out. Will wait to see price action over the next few candles before taking a long/short position.

thekwest

⋅ Aug 31, 2016 10:27 AM

ADP Non-Farm Employment Change in 2hrs should give the pair some clear direction & momentum

thekwest

⋅ Aug 31, 2016 9:27 AM

Entered at 0,9830
Stop at 0,9852
Target at 0,9770