Get started

Swiss

CHFJPY Possible Breakout/ReversalTrendI think if swiss breakout upward this time from this falling trendline there could be a possible long opportunity for this pair. Talking about the king (greenback) it is losing some gains which it had from the earlier days of the week from other counterparts. For now, the king is pulling yen lower and I think swiss may take this chance and if the price breakout falling trendline with strong momentum buy stop order should be triggered and if ain't be a fakeout possible reversal can be a case which will lead price around weekly pivot R1.
Long
by Anatta0
5
Losses. My past few GBPCHF trades have been in loss. What have I learned? 1) my risk reward is no longer garbage -I am limiting myself to trading only once per day with a max size of 0.02 a day. I am not allowed to place any more live trades after this. Meaning I have an actual strategy when I lose. Before I did not have a plan for losing and thus got myself into endless entries with 0.01 eventually leading to a deteriorating account. Now I am actually able to participate in the market for extended periods of time. 2) better understanding of key price levels -With the AstroFlip I can more easily identify price levels that are actually relevant to overall market movement. Before I would look first at historical price action and try to filter out the various price levels as I zoomed in from the Monthly eventually leading to the 30 min. This takes a lot of time and actually I think distracts the individual from the price levels that are CURRENTLY relevant to the currency pair. 3) more easily can intuit momentum direction -The AstroFlip also allows me to see the market in an alternative perspective, giving me insight on a potential movement in a structure that I simply could not see on the normal time frame. The lack of colors I must add does allow me to focus more on each individual candle because in the past I would glaze over candlesticks and wicks. What do I need to improve on? * Changing my mind----- important: sequential trade must be due to price hitting limit/sell order not due to manual entry -My last trade would have been a perfect entry had I been bullish and not bearish as my bias. In the past even when my bias was incorrect, the actual entry was not that good to begin with. Had I even the correct bias odds are I would have been stopped out regardless due to poor placement. My last trade would have actually been in draw down but a few pips had I the correct bias. I would like to add this does not mean "I wish I had the correct bias the first time". Rather, it simply means after getting stopped out I should have a limit or stop order with the opposite bias. The reason why this is now a valid solution unlike in the past is because no matter whether the trade is a buy or a sell, whatever direction price action moves will be tremendous. So even if the first trade hits my SL the next trade is guaranteed to be filled assuming 20-30 pip SL with a minimum of 1:2 risk reward ratio. This is because overall movement will average 70-120 pips. * Having Patience -My initial bias was bullish but I had changed my mind due to consolidating price level movement. One should always be patient during price consolidation. This is key for the sniper approach. I would not even had needed to change my mind had I been patient all along. One should only change their mind if the sequential trade is due to hitting a limit/sell order. If a trade hits SL on day x and you do not put in another trade until the next day, then you should be patient and see where the market is at instead of letting the past taint your current view. The past may indeed be relevant, but in the end of the day present moment price action and price levels are of primary focus.
by CryptoKarmaker
GBPCHF - Buying a retest of the broken rangeWe look to Buy at 1.2885 Buying pressure was posted in the market yesterday and has continued overnight. Positive overnight flows lead to an expectation of a firm open this morning. Broken out of the channel formation to the upside. A mild correction has been posted from yesterday’s high, this is seen as a retest of the breakout level. Further upside is expected although we prefer to set longs at our bespoke support levels at 1.2885, resulting in improved risk/reward. Expect trading to remain mixed and volatile. Stop: 1.2845 Target 1: 1.3000 Target 2: 1.3050
Long
by Signal_Centre
NZDCHF Testing Final Resistance LevelTrade Background: Price continues to move higher alongside global equity market. The risk on we're seeing is causing the Swiss Franc, a currency known to be a safe heaven, to devalue since mid November. As price approaches final resistance level, look for a potential reversal. Keep in mind that the pair will most likely reverse alongside a broad global market correction. Trade Idea: Entry: 0.64100 - 0.64300 Exit: 0.64500 Stop Loss: 0.63300
Short
by EmpowerTrader
1
USDCHF Short (125 Pip potential) USDCHF Looking to short it at a .50 pull back of this current down move. We completed a flat correction pattern after a new low and .9970 has been acting as strong resistance. There is a lot of volume in the red zone. I'm looking for this volume to act as resistance...specifically at .9925 My entry triggers are harmonic patterns . I enter them in these zones and then I hold them for the bigger target. My target is .9800 not just because it is a whole number, but it would play out as a bigger butterfly that completes at a .618 Pullback, I expect profit taking to happen here. Once again this yellow zone is the next level where there is volume I'm looking for price to hunt that liquidity down. We need to see how price looks going towards the red zone, I want it to struggle to hit it, I'm looking for a weak 2-3 day rally.
Short
by elevatedinvestor