CHFJPY Long with 3 confluences (Zero Indicators)Confluences:
1. Daily chart double bottom
2. Daily chart trendline breakout
3. Price trending bullish on daily chart as price created a new high.
Entry: Middle of the week would be the ideal time to enter this trade after the breakout and correction takes place. We will be looking to enter on the continuation to the upside. This is a nice short term trade with a duration 4-5 days holding period
Noindicator
Another opportunity to Short HKXHKD (HK50)FOREXCOM:HKXHKD is still in Seller's territory and now is a good time to short.
Purely Price Action setup and here is my personal trade opinion:
Sell Limit at 23,891
Stop Loss at 24,400
Take Profit at 22,589
Risk Reward Ratio = 2.63R
Disclaimer :
The analysis above for educational purposes only, I do not responsible for your losses. Please adjust your own lot-sizing according to your appetite.
If you are benefiting from my trade opinion, please buy me coffee .
As always, move your SL when you are in the profit zone.
Keep it simple on DAX (GER30)Simple strategy:
If the top resistance marked with blue is broken out with a trigger candle, then buy and hold until it reaches the green line. This profit zone is a weekly peak.
If the bottom support marked with blue is broken down with trigger candle, then sell and hold until it reaches the green zone.
Don't measure these lines point by point. The reliable signals are trigger candles called marubozu candle.
Lower timeframe is useful for finding the signals sooner.