CADCHF, daily tf, sell on break of ascending support
Hello my friends,
I hope you all enjoyed weekend. I just checked some pairs for September trading plan and this pair looks very interesting to me.
This pair not yet filtered by my screener but i think it will soon come to my sell position screener.
What i am waiting for now, is a confirmation that price break below the ascending support line with a solid candle close. The moment that parabolic SAR indicator switch from below to above the price, it will fully confirm to take sell positions. Notice also there is a possibility bearish divergence forming on stochastic.
I posted this in advance to let my fellow friends know it before hand so we will take sell position together when it confirmed. As long as price holding above the support then we will not take sell position yet. Only sell when we got our confirmation.
The trade will look like this when it is active
Sell CADCHF @0.6870
Stop loss @0.6955
Take profit 1 @0.6765
Take profit 2 @0.6670
RR ratio is 1 : 2,35
Use only 1-2% risk
Good luck
I hope you all enjoyed weekend. I just checked some pairs for September trading plan and this pair looks very interesting to me.
This pair not yet filtered by my screener but i think it will soon come to my sell position screener.
What i am waiting for now, is a confirmation that price break below the ascending support line with a solid candle close. The moment that parabolic SAR indicator switch from below to above the price, it will fully confirm to take sell positions. Notice also there is a possibility bearish divergence forming on stochastic.
I posted this in advance to let my fellow friends know it before hand so we will take sell position together when it confirmed. As long as price holding above the support then we will not take sell position yet. Only sell when we got our confirmation.
The trade will look like this when it is active
Sell CADCHF @0.6870
Stop loss @0.6955
Take profit 1 @0.6765
Take profit 2 @0.6670
RR ratio is 1 : 2,35
Use only 1-2% risk
Good luck
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.