EURCHF - short

Oct 7, 2024

We're terribly late in publishing this idea but it's still good because we're talking about a 4 hr move. In fact, we would normally never take - and God forbid recommend - a trade with such a low risk to reward but in consideration that the target is in reality the 4hr target and that the 4hr cross in the red on the macd is already confirmed, we are pretty confident that the target will be met. The annoying thing is that because we're late and because of the structure, we have to keep our stop above the 0.94231 level because on the very small timeframe (5 minutes) the correction can go one more up before falling and this is exactly what reduces our risk to reward in this trade. But, if we do get one more up in the correction on the small timeframe, we will adjourn the idea with a new setup on a small timeframe from a higher price point, in order to add a trade with a better RR ratio

Oct 8, 2024

Note

This is the point where we start looking for another sell on the very small timeframe (as small as one minute). Any double top reversal pattern, or a one minute impulse to the downside (with a cross in the red on the macd) followed by a correction (with a cross back in the green) will be our signal to put a pending sell below said correction and a stop loss above it.

Oct 9, 2024

Trade closed manually

We are closing the trade now on a slightly smaller loss than our stop loss level.
Structure came in the green macd on the 4hr timeframe, a clear indication of one more up.