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NZDCHF trade ideas

$100k Challenge - NZDCHF Short - E24 T1Hey all! After the initial group of trades out of the full trading plan, trade frequency has decreased significantly through the challenge, and we finally have a new one I consider worthy of a bullet hahaha. As always, here are the notes from the trading journal, enjoy! Overall the market has maintained a constant bearish structure, drifting in favor of the safe-haven Swiss Franc, it leads me to believe there might be some fundamentals favoring a risk-off environment, but honestly, I have focused mainly on the technicals as time for catching up with fundamentals has been limited. After the market tested the last lower low, it strongly rejected the area, leaving us with strong selling pressure clues, both on the H4 and the Daily. On top of this, the technicals I follow do signal a potential continuation, so I decided to take this short trade. The stop loss is located slightly above the last high, which is an unconventional approach as it's within the descending channel, however, my logic for this is that if the market pushes to the upper bound of the channel, I'd rather consider a second entry with a way better risk-reward, and have a tighter initial SL now in favor of a > 1:2 take profit 1. Kind of a risky move, but personally I think it's worth it. Regarding trade management, a standard approach of TP1 is located at the nearest support, and TP2 is open. Risk-wise, we're sticking to the original 1% per trade risk management.
Short
by FernandoBorea
NZDCHF Short OpportuityMarket Structure is KING! Hey, if you like this idea be sure to support with a like and a follow. Here is my analysis for NZDCHF for the upcoming week. CHF News this upcoming week. I'm looking to shirt for a short-term pullback. What are your thoughts? Leave it in the comments below! Blue Signal FX Rules-Based Trading 1. CHECK THE NEWS! 2. WHAT IS THE OVERALL TREND? Market structure will give you direction. 3. IS PRICE AT A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)? 4. IS PRICE APPROACHING A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)? 5. ARE YOU TRADING WITH THE TREND OR AGAINST THE TREND (MAKE SURE YOU ONLY TRADE AGAINST THE TREND ON THE 4HR TIME-FRAME AND ABOVE. 6. CHECK FOR DIVERGENCE.
Short
by bluesignalfx
3
Flash Crash Low In Sight Time To Buy ??The 2020 flash crash low of 0.53 is nearing, so I'm beginning to accumulate a long-term position. The reasons for this trade include the imminent approach of the flash crash low. You'll notice that the price is gradually declining towards this level. Every time a new low is established, buyers enter the market and push prices back up, a clear sign that an upward breakout is likely as we approach 0.53. The initial profit-taking target for this trade is at 0.55, which corresponds to the prior monthly lows we have surpassed, and it may function as a short-term resistance. We might see a slight pullback to 0.53 before rallying towards the long-term target of 0.59. This target is significant as it represents the monthly SUPPLY/SELL zone that instigated this downward movement. I will be monitoring my TRFX indicator for signals across the 8-hour to daily timeframes. We could potentially see a small dip below the 0.53 low before a subsequent rise.
Long
by TheFxAce
28
Sell Opportunity Swing Trade ?After noticing an over extension in price, we are starting to see some rejection in the Daily chart. I would wait this market out for the Daily candle close before making any trading decision. As shown already on the 4hr chart, there have been some bearish rejection candles such as the bearish engulfing candle. I would look for the daily candle to close looking heavily bullish and i'd look to to get a 50% fib retracement entry and set my target to previous structure at 0.53378 depending on the momentum of this trade. My stop loss would be set to 0.54568. Good luck on the charts
Short
by hamzah_mahmud