Signal Stream - CHFJPY Long Signal
Updated
Sorry for the delayed post, I have been away from my laptop the past couple days. I will be posting all signals, not just cherry picking.
A long signal appeared on CHFJPY a while back at 112.76, and it went on to immediately hit it's short term target. I generally take on very small positions for close range targets and ride out any drawdown (even extremely large drawdown).
But I do want to point out the short signal that appeared before it at 112.24, as this is the reason I ride out drawdown.
Price went into drawdown, but has since come back down and that trade (at the moment) is right now at break even.
Price has stalled at a minor S/R level, but I anticipate that it will fall down to the 112.00 level, which is in line with my close range targets for signals generated by this indicator.
Furthermore, I would like to use this example as exactly my reason why I trade small positions and take every signal, as it gives me the ability to ride out the drawdown, and still have the ability to take trades and profits on other pairs.
However, there are many ways to trade Signal Stream.
Signal Stream signals have a high chance of hitting their targets even if the market moves in the opposite direction, long after the signal appears.
It's like the market is attracted back to these levels if they don't hit it immediately.
Celebratory sale for signal stream happening now!
Get lifetime access to this subscription indicator for a one time payment.
Learn how to purchase Signal Stream here!
https://www.tradingview.com/script/XUfMqWnS-Signal-Stream/
A long signal appeared on CHFJPY a while back at 112.76, and it went on to immediately hit it's short term target. I generally take on very small positions for close range targets and ride out any drawdown (even extremely large drawdown).
But I do want to point out the short signal that appeared before it at 112.24, as this is the reason I ride out drawdown.
Price went into drawdown, but has since come back down and that trade (at the moment) is right now at break even.
Price has stalled at a minor S/R level, but I anticipate that it will fall down to the 112.00 level, which is in line with my close range targets for signals generated by this indicator.
Furthermore, I would like to use this example as exactly my reason why I trade small positions and take every signal, as it gives me the ability to ride out the drawdown, and still have the ability to take trades and profits on other pairs.
However, there are many ways to trade Signal Stream.
Signal Stream signals have a high chance of hitting their targets even if the market moves in the opposite direction, long after the signal appears.
It's like the market is attracted back to these levels if they don't hit it immediately.
Celebratory sale for signal stream happening now!
Get lifetime access to this subscription indicator for a one time payment.
Learn how to purchase Signal Stream here!
https://www.tradingview.com/script/XUfMqWnS-Signal-Stream/
Trade closed manually
I wanted to circle back around to this trade to emphasize the power of Signal Stream and why I personally take small trades and ride out drawdown.As you can see if you load new bars on this idea or if you go check the CHFJPY chart, price moved back down and hit the profit target of 112.05 before falling a touch further and stalling at a support level of 111.90.
I've said it in pretty much every post: Signal Stream signals have an extremely high chance of hitting their targets, even if price moves against it.
I've held tremendous draw downs that eventually came into profits. I am able to do so because I take smaller trades, allowing me to take the draw down and also have enough equity in my account to take other trades, which further lessens the hit of a draw down.
But that's how I trade, and no two traders are alike. There are differences in mindset, risk appetite, and experience to consider.
That being said, how I trade is only one way to trade Signal Stream. There are countless other ways and trade management methods you can employ.
I've worked with it enough to trust the signals, even if they move against me at first.
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