Short call generated by my NEW indicators!

Short

U.S. Dollar / Japanese Yen (FX:USDJPY)

FX:USDJPY U.S. Dollar / Japanese Yen

290 views

volumestudies usdjpy stophunt coronavirus

Chart Layout:
Anchored_VWAP_levels_and_VWMA_cloud
Adaptive_RSI_with_EMA

Call:
SHORT from 111.392 -> 110.380.
Why these levels?
The entry-level is from the VWMA cloud, adaptive RSI , and the Anchored VWAP 3rd upper level.
The exit-level is from the Anchored VWAP 2nd upper level.

Risk:
Stop-loss at 111.640 (24.8 pips)
Amount of account at risk: 1%
Amount of account to gain: 4.16%

Risk/Reward Ratio: 4.16:1

Comments

Great trade idea based on the indicator, guess the question is SL, TP and Risk with the trade.

Also do you consider this for scalping or more trend trading. Most 1 Day traders are trend.

Will check it out on the shorter time frames.

Any case like this with the Vwap levels and cloud.

Reply

Kuch

@Kuch, I definitely consider this tool for the Daily and for trends. My call wasn't great given the situation. The COVID-19 virus affected ALL of the major FX pairs much more than I anticipated.
Fortunately, the loss was quite small.

Thanks for letting me know you like it! If you have any ideas of improvements or indicators, let me know I love coding them.

Reply