Short

USDCHF, Reversal trend on H4.

By DatTong

Updated

D1:
- Tendency: upward and weakening
- Test resistance W1, given reversal candle
--> Waiting downward pullback

H4:
- Structure: Uptrend
- Test resistance week
- Given signal: Sell
- Breakout trendline
--> Waiting downward pullback

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Comment

This gonna go up more, don't FOMO to short sell too soon

Trade active

There you GO...

Comment

Set the Stoploss of this trade lightly above the previous Top to make tight Stoploss in case it breaks with strenght and focus on the other trades of the day which leverages when USD shows strenght

Comment

Some people asked if they continue to Short sell this. H4 closed give a bearish candle with good bearish body. So it's not bad to go for short with very tight Stoploss above Top. This is not a proper setup, but it's a good trade off from R/R.

I always go for R/R ratio, so no matter what it's trend following or counter-trend as long as provided good R/R, it's all good trades. Don't make things complicated

Trade closed: stop reached

Reached Stop. It's a small stoploss, get over quick and trade the pending deals

DatTong

I’ve taken a break from my public community engagements to focus on raising my three kids, but I'm rediscovering my passion for working again. Stay connected, as I plan to return and rejoin my old communities with a lot of new skills one day soon.

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