As I failed to post this chart earlier, when I got in the first time, price action is now approaching my level again where I will look to sell some more. I first got in at 1.0097 and it proceeded to hit target 1 at 1.0052, so my risk is off for this one.
Price went oversold as you can see by the RSI and is now making a retracement. I am looking for a sell signal at the purple circle and if you wish to trade this also you could enter there, place the stops at the red line and target at the green circle. But I do warn you, I don't enter at limit, I need some confirmation that price action is not just going to blow through. If it does we'll obviously shift our focus to a bullish stance.
Of course, do not do anything I say, follow your plan! But if you look for the same type of setups as me you could use this to help with your own analysis.
Good luck!
Edit: the risk/reward bar is the current trade I am in
Price went oversold as you can see by the RSI and is now making a retracement. I am looking for a sell signal at the purple circle and if you wish to trade this also you could enter there, place the stops at the red line and target at the green circle. But I do warn you, I don't enter at limit, I need some confirmation that price action is not just going to blow through. If it does we'll obviously shift our focus to a bullish stance.
Of course, do not do anything I say, follow your plan! But if you look for the same type of setups as me you could use this to help with your own analysis.
Good luck!
Edit: the risk/reward bar is the current trade I am in
Comment:
I should post the main idea behind this trade was the daily chart:
Comment:
Looks like USDCHF is starting to go lower, I didn't get to add to my position because it didn't get to my selling point, it just barely got into my killzone and started to go lower. Still holding target 2 until the 0.99 area.
Good luck trading!
Good luck trading!
Comment:
Another chance to re-enter at the purple circle. I will wait for a sell signal in the form of a price action pattern. A nice retracement from here in to structure and the 1.00000 level with a pinbar would be preferred. We also have confluence with a trendline and the 100 day moving average.
This setup has been very technical throughout and worked out perfectly, it was the news that caused the actual moves but the technicals were there to begin with. I love how stuff like this plays out!
Target is still the same at the green circle. Stops will be placed above a pinbar.
This setup has been very technical throughout and worked out perfectly, it was the news that caused the actual moves but the technicals were there to begin with. I love how stuff like this plays out!
Target is still the same at the green circle. Stops will be placed above a pinbar.