On the 15 min chart, we could potentially see a reversal at the 78.6% level, with the stop loss at the 100% level and take profit at about 1:5.
As always, we need to be careful with these trends as it goes against the current 15 min trend.
This strategy is a low win rate high risk reward strategy
Bias
On the H4 chart, we have potential bullish signal.
Entry
Entry is on the 15M chart, where we will use the 61.8% and 78.6% retracement level.
Stop Loss
For the 61.8% entry, the stop loss is at 78.6% while for the 78.6%, the stop loss is at the 100% level
Risk
Risk is at 0.1% of the account
Comments
This strategy tends to have a low win rate but a...
MACD changes to green and we have a potential retracement of price back to the 61.8 and 78.6 level.
Potential problems in this trade is that it is a counter trend trade as the overall direction of GBPCHF is long bias.
We expect trades like this to fail several times but the overall risk reward ratio of this play is an overall gain. On average, we would take...
I have placed sell limit orders at the 61.8 and 78.6 levels. Looking for a potential short position. Must be careful with it because it goes against the trend
