I've spotted a key demand zone for USDCHF between 0.85771-0.85699 on the 30-min chart. If the price retraces to this zone, I'll be considering a long position. My target is set at 0.8608, with a potential for a 3.9 R reward. That's 3.9 units of profit for every unit of risk.
I plan to exit the trade if there's a 30-minute candle closing below the demand zone.
I plan to exit the trade if there's a 30-minute candle closing below the demand zone.
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Bình luận:
Sold 1/3 of position as profit taking and set a stop loss at the low. At this point this is now a free risk trade. As for price action we now have support between 0.8582-0.9586 on the H1 time frame. Perhaps some consolidation around this numbers
Bình luận:
An update for this trade: Trade still valid and in play. Huge vol due to macro economic news however there was none 30m candle closing below the low of the demand level. This means buyers are still in control. However it is not easy to hold positions like this when there are important macro events. Reducing risk ( taking partial profits) was a well played move. Still holding position in this one
Bình luận:
Trade update: Trade still valid and in play but what a way to try to win 30 pips. To this point there was no 30m candle closing below the low of the demand level so buyers control and level still in play. Some vol expected ahead with EUR CPI numbers
Đóng lệnh: đạt mục tiêu:
I up fronted by 1 pip the target so I’m out . A pain trade I must say however being patient and disciplined paid off. The 30 m demand spite being tested several times hold so no reason to quit