USDCHF - BEARISH OPPORTUNITY > SELL!
Hey traders and investors, this is my viewpoint and belief on what will most likely happen to USDCHF this week - connect to this by reading it through and writing your thoughts in the comments if you agree.
- I've noticed that the price of USDCHF has gone down 1.40% in the last 3-4 trading days (April 19 - April 24, 2023) - since there was a resistance level that had a total of 21 bullish candle wicks touching it, which had the power and ability within itself to push the price down 117.5 pips from it
(THE STRATEGY BEHIND THIS SELL TRADE) - 4/24/2023
- I started with this bearish candle that I found, which has the 3 specific principles that I look for in a profitable bearish candle and a previous wick of 43 pips, which is greater than the last bearish previous wick (19), by 24 = a greater previous wick (the greater the previous wick - the more effective and profitable the bearish candle becomes) combined with this new resistance level that has 11 bullish candle wicks touching it, which is more bullish candle wicks touching it than the previous resistance level above it, that was able to push the price down 95.9 pips from it and protect the price from hitting a 4.5 pip stop loss above the 8th bullish candlewick on April 20, 2023, = giving this combination/resistance level the advantage and ultimately making it more effective and influential to push the price down 101.4 pips from my entry price HIT MY TAKE PROFIT and protect the price from hitting my stop loss.
(GREATER CHART VIEW 🌅)
(MY SELL POSITION ON USDCHF)
The price of my take profit is set at $0.87713 (101.4 pips)
The price of my stop loss is set at $0.89023 (25.7 pips)
MY ENTRY PRICE IS $0.88766
- RISK MANAGEMENT APPLIED ✅
- IF YOU FOUND THIS BENEFICIAL, YOU CAN SUPPORT ME WITH A LIKE/BOOST AND FOLLOW 💛
(Bk) Buomkuoth Nhial Reath - 20 yrs old
- I've noticed that the price of USDCHF has gone down 1.40% in the last 3-4 trading days (April 19 - April 24, 2023) - since there was a resistance level that had a total of 21 bullish candle wicks touching it, which had the power and ability within itself to push the price down 117.5 pips from it
(THE STRATEGY BEHIND THIS SELL TRADE) - 4/24/2023
- I started with this bearish candle that I found, which has the 3 specific principles that I look for in a profitable bearish candle and a previous wick of 43 pips, which is greater than the last bearish previous wick (19), by 24 = a greater previous wick (the greater the previous wick - the more effective and profitable the bearish candle becomes) combined with this new resistance level that has 11 bullish candle wicks touching it, which is more bullish candle wicks touching it than the previous resistance level above it, that was able to push the price down 95.9 pips from it and protect the price from hitting a 4.5 pip stop loss above the 8th bullish candlewick on April 20, 2023, = giving this combination/resistance level the advantage and ultimately making it more effective and influential to push the price down 101.4 pips from my entry price HIT MY TAKE PROFIT and protect the price from hitting my stop loss.
(GREATER CHART VIEW 🌅)
(MY SELL POSITION ON USDCHF)
The price of my take profit is set at $0.87713 (101.4 pips)
The price of my stop loss is set at $0.89023 (25.7 pips)
MY ENTRY PRICE IS $0.88766
- RISK MANAGEMENT APPLIED ✅
- IF YOU FOUND THIS BENEFICIAL, YOU CAN SUPPORT ME WITH A LIKE/BOOST AND FOLLOW 💛
(Bk) Buomkuoth Nhial Reath - 20 yrs old
Catatan
Changed the price of my stop loss from $0.88713 to 0.89272 since I spotted a possible reversal off this previous resistance level
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.