Market Analysis:
Asset: CHF/JPY
Timeframes:
1-Hour: Bearish divergence confirmed (lower highs on RSI, higher highs on price).
4-Hour: Bearish trendline tested and respected (3 touches for confirmation).
Bias: Bearish.
Trade Setup:
Entry Point:
Enter a sell position after price rejects the 4-hour bearish trendline.
Look for confirmation such as a bearish engulfing candle or rejection wicks on the 1-hour chart.
Stop-Loss:
Place stop-loss above the recent high (or above the 4-hour trendline for safety).
Take-Profit Levels:
TP1: Near the previous 1-hour swing low.
TP2: Strong support level on the 4-hour chart.
Risk Management:
Position Size: Risk no more than 1-2% of your trading capital.
Risk-Reward Ratio: Aim for a minimum 1:2 R/R ratio.
Additional Confirmation:
Indicators:
RSI: Bearish divergence aligns with overbought conditions.
MACD: Look for bearish crossover confirmation.
Candlestick Patterns: Watch for reversal candles (e.g., bearish engulfing, shooting star).
Asset: CHF/JPY
Timeframes:
1-Hour: Bearish divergence confirmed (lower highs on RSI, higher highs on price).
4-Hour: Bearish trendline tested and respected (3 touches for confirmation).
Bias: Bearish.
Trade Setup:
Entry Point:
Enter a sell position after price rejects the 4-hour bearish trendline.
Look for confirmation such as a bearish engulfing candle or rejection wicks on the 1-hour chart.
Stop-Loss:
Place stop-loss above the recent high (or above the 4-hour trendline for safety).
Take-Profit Levels:
TP1: Near the previous 1-hour swing low.
TP2: Strong support level on the 4-hour chart.
Risk Management:
Position Size: Risk no more than 1-2% of your trading capital.
Risk-Reward Ratio: Aim for a minimum 1:2 R/R ratio.
Additional Confirmation:
Indicators:
RSI: Bearish divergence aligns with overbought conditions.
MACD: Look for bearish crossover confirmation.
Candlestick Patterns: Watch for reversal candles (e.g., bearish engulfing, shooting star).
Trade active
Tp1 Done.. Lets wait for the TP 2Trade closed: target reached
Both TP done
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.
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.