USDCHF has presented us with another short opportunity. After relentlessly rising, the market structure has finally shown signs of breakdown.
I'm looking to short from this area down to the first TP where there's a set of equal lows. Oftentimes, a build up of sell stop pending orders are left there from retailers, this is the perfect hunting ground for Market Makers.
The second TP is a little ambitious, but definitely possible depending on how price reacts after hitting TP 1.
If price trades down to our final TP, we can look for a reversal trade to the upside as the Institutional Orderflow on the higher timeframes remains bullish.
Good luck everyone!
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Extremely low sponsorship at this level to be honest, if it doesn't move within the next hour I'm closing out and done for the week.
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It's alive.
Finally, some movement. Let's see if price delivers now.
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Stop moved to Breakeven.
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Price gave us another entry point today on the M5 chart.
Beautiful run.
Trade closed: target reached
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TP 1 hit. RR 1:5.4.
Risk: 1% ROI: 5.4%
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Price is extremely close to TP 2. I'll be looking for a huge reversal trade off this area on Wednesday/Thursday