CHFJPY 4H Long
Updated
While searching for use-cases for TD Lines based Strategies, I found out that CHFJPY seems to be sensitive to TD Lines/ Trendline-based Signals.
Using TD Points Level 3 reduces the number of Signals but increases the Reliability. As a Strategy for taking Profit, I use the 3-Day-Trailing-Stop-Rule (3DTSR) by Peter Brandt.
Here are the full Settings.
Looking at the Backtests - Net-Profit is high, while Drawdown is low.
Recently, the current TD Supply Line was broken and a Buy-Signal was issued that still looks very valid.
So it would be a good Idea to have a look, how the markets open on Sunday-Night (depending on where you are ...) and then enter the trade on a pullback.
Using TD Points Level 3 reduces the number of Signals but increases the Reliability. As a Strategy for taking Profit, I use the 3-Day-Trailing-Stop-Rule (3DTSR) by Peter Brandt.
Here are the full Settings.
Looking at the Backtests - Net-Profit is high, while Drawdown is low.
Recently, the current TD Supply Line was broken and a Buy-Signal was issued that still looks very valid.
So it would be a good Idea to have a look, how the markets open on Sunday-Night (depending on where you are ...) and then enter the trade on a pullback.
Trade closed: target reached
Price went up, time to take some profit. Partially profit taking would be an idea - RSI is far away from being overbought - maybe close out 50% of the position and let the other 50% runNote
That was a perfect Entry - Price went up to almost 113!!!
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