Little better than 1:1 RR on 15m chart. See chart for details of entry
We've come up to a good support/resistance zone and have completed a bearish bat pattern. Looking at two positions at fib. Also RSI and Stoch RSI overbought.
We have a double top and an engulfing bearish candle at close on the 4 hour chart on the 2nd top. Position Targets shown in chart
See chart for details and Position TP/SL
We have a down trend + we have come up to the downtrend line. We have overbought Stoch RSI on the 1 Hour. And a bullish close.
We have oversold Stoch RSI at an upward trendline. Two positions at two targets, same stop loss.
Looking for price to enter into a downward (red triangle) trend. Once we see a bullish candle close (15 min or 1 Hour) chart it would be a good time to short. Two positions for taking profits. Analysis done on a higher timeframe. Position 1, RR: 1:1.8 Position 2, RR: 1: 2.8
Looks like price is in a good known supply/demand zone . We do have a bearish bat pattern forming also at this zone. I will be looking for a double top or convincing bullish engulfing close candle (4 hours) to short this with target set at previous known support line. This looks to take place sometime next week.
If this breaks downward, looks like a good trade for next support/resistance level.
Once price reaches previous support/resistance and downward trendline , we can look for pirce action to confirm short entry...
Just got an engulfing bullish candle with Stoch RSI and RSI oversold. Close of a bullish candle on 1 hour has occurred at the bottom part of an uptrend channel. The big picture is this is probably just a retracement of the previous day's dive, Looking for two positions as indicated by the chart.
See chart for why entry was made! 2 Positions per chart
I was short yesterday with NZDCHF 0.64% before the new announcement cause some chaos. I got out of the trade later in the day down a few pips waiting to see how it would react. I saw the price go up back to the previous swing high (news spike) and now have seen enough price action to let me enter the trade short again.
We have now a downward trend. The retacement of previous low seems to be done as Stoch RSI on 15 min chart is oversold. Looking for a RR of about 1:1.15. Stops just above previous High, Take Profit at next support zone