EURCHF [Possible Long]
Possible Long Setup:
- Price need to clear the first trouble area I marked (a complete close above)
- Retrace back to the entry zone, might need to get into H1 to get the entry
- During UK session there was an attempt to break both but go push back down, there is buyer and so the sellers are pushing down hard too.
- It will be better the trouble area @ 1.06698 got clear with small candles forming upward. This will be a good indication showing sellers are fading out.
- Set stop below the support zone
- This trade I am looking for a full reversal due the the price action below the support zone then the fighting about the support zone
Setup Entry#1
Ideal Entry: 1.06546
Stop: 1.06243
TP1: 1.07246
TP2: 1.08579
Setup Entry#2
- Too early to tell
- Looking around 1.06928 area
- If there is setup entry #2 confirm this trade will need to have different money management
- Due to TP1 is way higher than possible Entry#2 price when enter Entry#2 require below formula:
Stop: Entry#1 & Entry#2 have same stop
Risk: Entry#1 positions profit at stop / 2 will be the capital for Entry#2
- Price need to clear the first trouble area I marked (a complete close above)
- Retrace back to the entry zone, might need to get into H1 to get the entry
- During UK session there was an attempt to break both but go push back down, there is buyer and so the sellers are pushing down hard too.
- It will be better the trouble area @ 1.06698 got clear with small candles forming upward. This will be a good indication showing sellers are fading out.
- Set stop below the support zone
- This trade I am looking for a full reversal due the the price action below the support zone then the fighting about the support zone
Setup Entry#1
Ideal Entry: 1.06546
Stop: 1.06243
TP1: 1.07246
TP2: 1.08579
Setup Entry#2
- Too early to tell
- Looking around 1.06928 area
- If there is setup entry #2 confirm this trade will need to have different money management
- Due to TP1 is way higher than possible Entry#2 price when enter Entry#2 require below formula:
Stop: Entry#1 & Entry#2 have same stop
Risk: Entry#1 positions profit at stop / 2 will be the capital for Entry#2
Note
Both trouble area been clear and does trace close to entry point, however it happens during rollover period,Looking entry @ 1.06627 if I am able to get it
Stop move to 1.06495
Note
Stop should move to 1.06324Note
Order filled.Note
Stopped outNote
Moving forward need to consider to check both currencies conditions.Like this case both EUR and CHF are in extreme. So under those case this cross pair will become very spiky
Trade closed: stop reached
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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.