Going Short in USDCNH

Hello Traders;


USD CNH - Forex.com

Trade Plan.

Short / Sell Trade.
Entry Level should be below the 50.0% FIB / Daily Support zone with Bearish candle @ 7.19050

TP - 1 : Above the FIB level 78.6% / Daily Support zone @ 7.10470
TP - 2 : Above the 4 Hour support level / Weekly Support Zone @ 7.06960
TP - 3 : Above the FIB level 100.0% / Daily support level @ 7.03090

Stop Loss should be placed at 38.20% FIB Level Stop Loss @ 7.23770

Lot Size :
Portfolio Size 10000 $
Risk to Reward 1 : 1
Lot size 19560 units @ 5% Risk

TP - 1 = Total PIPS in gain = 858 Profit 1.28 %
TP - 2 = Total PIPS in gain = 1209 Profit 1.71 %
TP - 3 = Total PIPS in gain = 1596 Profit 2.30 %
Total PIPS in Stop loss = 472 Loss 0.66%

After the break of Neck Line of Head & Shoulder Pattern
Intact with the short trade and ride down to Weekly support down @ 6.71735.
Keep trailing Stop Loss on every support level during trade to secure profits.

Regards.