OPPORTUNITY FOR SELL CHFJPY
Updated
We have these indicators for SELL opportunity:
- Reflection from the top of the parallel channel (Has been created since 2008)
- Low volume to continue the current direction
- Return/re-test to (Year + 6M + 3M) high
We define 3 goals:
TP 1 = 80 pips
TP 2 = 200 pips
TP 3 = 400 pips
* Nothing grows forever, so the turndown is most likely. But beware of the "fake out" in 2015 - count on this in risk management.
- Reflection from the top of the parallel channel (Has been created since 2008)
- Low volume to continue the current direction
- Return/re-test to (Year + 6M + 3M) high
We define 3 goals:
TP 1 = 80 pips
TP 2 = 200 pips
TP 3 = 400 pips
* Nothing grows forever, so the turndown is most likely. But beware of the "fake out" in 2015 - count on this in risk management.
Trade closed: target reached
According to our practice if a S/L was reached: we didn't close the first trade, but immediately entered the second trade in the same volume and type as the first trade (177.476). We were waiting until the first trade with the second trade had the sum of 0 USD (i.e. in 50% of S/L). In this case, we closed both trades with zero loss & profit (175.476)
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