Swiss frank was franking for about 2 days moving inside the hourly zone.
On 1H timeframe it created bearish diveregence following a big bearish move and then consolidation between the hourly zone.
Bearish Score
Bullish Score
If the price breaks 191.18 level then the only Bullish score will sink and will be converted into Bearish Score.
I will place two Buy Limit orders at the same entry level:
Once TP1 is hit, I will move the SL of the remaining trade to Breakeven and let the second position run toward TP2.
Total Risk 2% - 1% each trade
Entry: 191.207 (Sell Stop Order)
SL: 192.159
TP1: 190.061 (Win Ratio: 1:1.20)
TP2: 192.159 (Win Ratio - 1:2.77 or 0:3.42 in case our 1st TP Hit.
On 1H timeframe it created bearish diveregence following a big bearish move and then consolidation between the hourly zone.
Bearish Score
- CHFJPY trading below the William Alligator. The Alligator mouth is open downside.
- Price is trading below 50 EMA on hourly time frame
- On Daily Time frame the trend is Bearish.
Bullish Score
- Hourly trend is still Bullish unless it not breakdown below 191.18
If the price breaks 191.18 level then the only Bullish score will sink and will be converted into Bearish Score.
I will place two Buy Limit orders at the same entry level:
Once TP1 is hit, I will move the SL of the remaining trade to Breakeven and let the second position run toward TP2.
Total Risk 2% - 1% each trade
Entry: 191.207 (Sell Stop Order)
SL: 192.159
TP1: 190.061 (Win Ratio: 1:1.20)
TP2: 192.159 (Win Ratio - 1:2.77 or 0:3.42 in case our 1st TP Hit.
Trade active
Trade is active now. It will now either hit our SL or TP.Note
TP 1 Hit. We moved SL to Break even and let the price aim for 192.159.Trade closed: target reached
TP1 Hit.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.