CHFJPY 4 HOUR BREAK AND RETEST TRADE SETUP
Hi everyone:
Here is my view on CHFJPY SHORT, any feedback is greatly appreciated it. Thank you
Trade: #14
Date: 12/26/2016
Time: 00:00 GMT
Forex Pair/Commodity: CHFJPY
Position: SHORT (SELL)
Reward/Risk: 3:1
After an over extended run to the upside, price has finally broken down the support trend line @ the 4 HR chart, potential reversal of the trend. Since daily chart is also over extended to the upside for more than 1 and ½ months now, , this is a good opportunity to short as the daily chart also broke down a strong support trend line. Looking to target the daily 20 EMA, roughly 113.30 for a 3:1 reward/risk ratio trade setup.
Daily: Over extended to the upside since the U.S. election, now has finally broken down the support trend line, and looking for a pull back play to 20 EMA
4 Hour: Break down both the 20 and 50 EMA, now retracing at 50 EMA, main pivot point, 0.382 fibs retracement
1 Hour: Short term trend line is broken down, price has fully retraced @ 20 EMA area.
Thank you for your support
Here is my view on CHFJPY SHORT, any feedback is greatly appreciated it. Thank you
Trade: #14
Date: 12/26/2016
Time: 00:00 GMT
Forex Pair/Commodity: CHFJPY
Position: SHORT (SELL)
Reward/Risk: 3:1
After an over extended run to the upside, price has finally broken down the support trend line @ the 4 HR chart, potential reversal of the trend. Since daily chart is also over extended to the upside for more than 1 and ½ months now, , this is a good opportunity to short as the daily chart also broke down a strong support trend line. Looking to target the daily 20 EMA, roughly 113.30 for a 3:1 reward/risk ratio trade setup.
Daily: Over extended to the upside since the U.S. election, now has finally broken down the support trend line, and looking for a pull back play to 20 EMA
4 Hour: Break down both the 20 and 50 EMA, now retracing at 50 EMA, main pivot point, 0.382 fibs retracement
1 Hour: Short term trend line is broken down, price has fully retraced @ 20 EMA area.
Thank you for your support
ملاحظة
Here are the DAILY and 1 HR Charts:تم إغلاق الصفقة يدويًا
Break Even. 1 HR chart did drop down, but bounced up to break above the 50 EMA, and a bullish MACD has come in. Manually exit the trade for break even.Date: 12/27/2016
Time: 23:00 GMT
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.