CHFJPY
The pair is forming this XABCD Pattern ( I am a beginner may be its not correct but as the basics of technical analysis i think the formula is correct ) so the pair is near to a daily up trend and MACD + RSI will cross to up trend and the 200 EMA is down the bars so testing the trend that is also near to 50 % Fibo it will turnd up to complete the pattern .
Check List for Entry
Check List: -
1- Trend Condition (Near to test the daily up trend)
2- MACD + RSI Condition (going to cross to an up trend)
3- EMA 100 , MA 200 Simple Condition (will be a confirmation to the trend and the trade )
Sell trade 110.7
SL 1110.10
TP 1: 112.00
TP 2: 114.00
TP 3: 117.00
Check List for Entry
Check List: -
1- Trend Condition (Near to test the daily up trend)
2- MACD + RSI Condition (going to cross to an up trend)
3- EMA 100 , MA 200 Simple Condition (will be a confirmation to the trend and the trade )
Sell trade 110.7
SL 1110.10
TP 1: 112.00
TP 2: 114.00
TP 3: 117.00
Note
Going back to the up trend for test if closed above we will wait for confirmation to go long .Note
Trade closed: stop reached
SL REACHED WITH ONLY 1 PIP MAY BE OTHER PLATFORMS OR OTHER BROKERS WOULDNT HAVE CLOSED THE TRADE BUT TP 1 DONE AND GOING FOR TP 2
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.