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Possible USDCHF ShortThe Swissy is the nearing a resistance around the 0.89939 level that has been tested and proven strong from 17th April 23 to 6th July 23. The pair is also displaying bearish divergence from the 4 hour to the 5 min chart. I believe the bears will come into play as soon as Monday pulling the pair down and I intend to be one of those bears with an entry at the open or possibly once the 0.89766 level is breached to the downside . For now we wait to trade what we see.
Short
by NGXCorp
Risk to Reward Ratio is the key to constant wins at tradingI love writing those articles on my Blog, mainly because I learn from reviewing my trades & secondary for the value it gives back to the trading community. I been preaching Trading is simple but not easy. It is based on following a winning trade plan. & how do you find such a plan? Try & fail, Try & succeed there is no other way. There is the possibility of a generous soul teaching how a winning strategy & thats what I hope to do in this article. I will share 2 rules Rule number 1 Always trade the bigger picture. Find out what the bigger picture chart is doing & trade based on that. In this trade am placing my trade decision in the (W) chart the top chart in white. My bigger picture chart is the monthly (M) not shown. And the chart I use to time my enter & exit is the Day chart (D) below in Black Rule number 2 Risk to Reward ratio, This should be rule #1 but I placed it as number 2 to add importance to the rules of trading the bigger picture. Aim for a Risk to Reward ratio of 3 to 5. This means you asses the Risk (how. much money you can loose) before you asses the Reward (how much money you can win). In this trade, the bigger picture chart (M) is in a downtrend. The trading chart (W) comes into untested Supply Zone (SZ) with a Risk of less than a dollar. I take my SHRT in the red Circle The reward is 4-5 dollars per share, mostly due to a price free fall zone, with little Demand zone (DZ) to challenge the price. I took profit at two point marked by the red X in the Daily chart. There are odd enhancers as to why I took this trade, but they are outside the scope of this blog. If you like to learn more about my winning trading strategy that I been practicing for 11 years. Follow my Blog & learn to trade smarter.
TSX:ACShort
by greatful-me
Symmetrical Triangle continuationAUDJPYSymmetrical Triangle continuation Pattern in 1 Hour Chart AUDJPY, its show that might they Break out from this point to Upward Direction, showing bullish Trend. Entry Price & TP1 & TP2 Set Accordingly Stop Loss for Long: 93.939, For Plan B Entry price is also set for Short Trade might this go from this Point to down ward so we set trade accordingly & Entry Price & Stop Loss for Short Trade is 94.326 also Defined with TP1 & TP2 as well. Symmetrical Triangle continuation Pattern might take break out both side so we already make plan for the both side trades, once one side trade is active, so cancelled the other side, wait & watch
by TradingwithBelieve
USD/CHF - Too many signs to ignore!!Time Frame: Weekly/Daily – Analysis & Levels 1 HR – Confirmation 1 HR/30 Min - Execution Trend: LTF Pullback within HTF downtrend. Resistance and bounce at 50% retracement on fib. - HTF (Daily) = Downtrend - LTF (1 Hour) = Uptrend This trade has a lot of confluence for us to have a pretty sizable move to the downside. 1. We have a symmetrical triangle pattern (in black) holding us within these levels since 2012. In July 2023 we broke out of this pattern with a ton of strength, bringing us down to a level of strong support and a low since 2015. 2. Price rebounded from this support but with unimpressive volume, leading me to believe there is a lack of liquidity for buyers to get the necessary push up to break back into the triangle and former trading zone. 3. This rebound/retrace also led us to 50% on the fib which we are holding strong at with strong rejection indications. 4. We currently in an already mitigated demand zone that was formed from a prior liquidity grab – and below that, a strong unmitigated demand zone & POI. 5. We are approaching a retest of the bottom of the triangle which will require a lot of volume to break through – ans at the same time, we are approaching the top of the daily trend line (blue) in which we have rejected 3 times this year. Confluence Review: 1. Continue higher time frame downtrend 2. Break below weekly/10 year trend line/support channel – Heading for retest of break point 3. Top of strong selling channel which has proven to be resistance 3 times 4. Strong support @ .857 that led to rebound but with low buying volume 5. Resistance at 50% retrace (current price) My Trade Plan and Hypothesis: Trade 1: Resistance at upper blue trend line and failed support at lower green trend line. I predict price to mitigate the lower demand zone/POI. I will wait for price to reject the top of our LTF selling channel (blue trendline on daily chart) and subsequently fail support on the LTF buying channel (Green trendline on 1 hour chart). Stop Loss – Above/break of blue trendline Take Profit 1 – Strong Weekly Support / Recent Lower Low = 2.32 R:R Take Profit 2 – Unmitigated Demand Zone / POI = 6.5 R:R Trade 2: - Resistance and failure to break back into black HTF triangle. If price breaks out of the daily TF blue selling channel, I will wait for a retest of the bottom of weekly symmetrical triangle (black trendline on all charts). Once there are signs of strong rejection I will enter trade on 30min/1 hour timeframe. Stop Loss – Above/break of bottom of weekly channel Take Profit - Unmitigated Demand Zone / POI = 7.38 R:R
Short
by ReigningTrades