Following breakdown from the long standing trend line, most people who have shorted have placed their SLs at the lower low above trendline. Idea is that price will try to claim those SLs and continue downward afterwards.
Using DOw theory we see a major downtrend, keeping the stop loss at the last resistance/LH
and TP at last support. Sell Stop, two trades each at same entry one exit at TP1 one at TP2. R/R 2/3.
Based on the simple DOW theory were looking at a secondary down trend. Market behavior supports this idea and the general market seems to be slowing down. A sell stop at the last support with a stop loss at the last resistance. Looking at 2 trades at 1% risk each at a 2:3 risk-reward. First trade at tp1 second at tp2.
A USDINR long setup. Using DOW theory and realizing that the chart is making higher highs and higher lows as well as in a major uptrend it seems like the secondary trend should continue. The trade setup is for two buy stops at 1% risk at TP1 and TP2.
A setup for USDCHF, on the minor trend we see that it is bullish with higher highs and higher lows. Setup is to place two buy stop orders with 1% risk each. The risk reward ratio is 2:3.
