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CHFJPY SHORT Trade Based On Price Action VIDEOThis is a trade setup based on timeframe agreement and price action. Looking at the relationship across the timeframes, these are some of the things to take notice of: ====DAILY CHART==== The daily chart shows good evidence of bearishness: there are lower lows and lower high; and the price was recently overbought, interacting with the upper linear regression channel. ====LOWER TIMEFRAMES==== The lower timeframes agree with what we are seeing on the daily chart, producing lower lows and lower highs. ====STOPLOSS PLACEMENT==== A conservative level for stoploss would be above the previous lower high on the daily. ====PROFIT TAKING==== A 1:1 reward-to-risk appears achievable, although the daily does indicate scope for the price to move beyond that.
Short
by NextForexTrade
SHORT Trade Based On Price ActionThis is a trade setup based on timeframe agreement and price action. Looking at the relationship across the timeframes, these are some of the things to take notice of: ====DAILY CHART==== The daily chart shows good evidence of bearishness: there are lower lows and lower high; and the price is overbought, interacting with the upper linear regression channel. ====LOWER TIMEFRAMES==== The H4 also shows good signs of bearishness, although there are some clear signs of recent support as discussed in the video. A more conservative trade would be waiting for that support to break and the price to pull back. The H1 and lower timeframes show good signs of bearishness, with lower lows and lower highs. ====STOPLOSS PLACEMENT==== A good level for the stoploss is above the most recent resistance evident on the daily. This clears the previous lower high in the down trend and is also outside the liner regression channel. ====PROFIT TAKING==== Can consider taking initial profits on 1:1. However, if the price breaks the most recent lower low on the daily, there is a lot of scope for the price to potentially move lower.
Short
by NextForexTrade
EURUSD Timeframe Agreement & Price Action For Shorts Trade setup to short based solely on timeframe agreement and price action. DAILY good signs of bearishness and signs that price could be oversold (based on linear regression channel) H4 broken support which was holding up the price HOURLY Started to show lower lows and lower highs. Entry based on seeing reversals off of either the upper linear regression channel or the average of linear regression channel. STOPLOSS PLACEMENT Using the lower highs on the hourly for stoploss placement, as shown in video. TAKE PROFIT 1:1 reward to risk seems probable if the price action pans out as described, although scope for a move beyond that.
Short
by NextForexTrade