EURCHF potential downtrend forming

23 Jan

D1: Price stalling at resistance zone and might turn downtrend depending on today's closing.


H4 and H1: show downtrend is forming, confirm when price break current support level and continue the current pattern.

Entry
Once downtrend confirmed on lower time frame (H1), short @ retracement zone and bounce (H1 resistance), exit upon H1 market structure shift (for risk management, imaginary SL @ 0.94745).


Scaling in
As H1 trend unfolds, add to position gradually upon price retrace and bounce from key zones, exit position upon H1 market structure shift.
This trend has plenty of room to scale in if market gives the right signal

Target Profit
Higher end of daily support zone @ ~0.92843.

Time Horizon
1-10 days

Just an idea, I might be wrong, not financial advice :P

24 Jan

Trade aktif

Price continue break lower and retracing, trade entered.

24 Jan

Catatan

Price going well, scaling in.

26 Jan

Catatan

Zone is being established on H4, wait for new cycle to add to position.
Trend is still remain, for now.

29 Jan

Catatan

Price is still in low time frame trend, looking to add to position at retracement.

Price move too fast, might cause reversal, especially price also hovering near support areas.

30 Jan

Catatan

H1: Price shows early sign of trend reversal.
D1: Price shows price is trending but in retracement.

Holding for now.

31 Jan

Catatan

Alright, seems like it is playing out well, added to position. TP readjusted, exit on trend H1 shifting.

2 Feb

Trading ditutup secara manual

Price seems to enter consolidation.