USDCHN, worth the shot

The pattern is a bit unclear, but because the RR is so great i am taking the risk here. Starting small and increasing on the break of the yellow zone. Think we might make a lower high on the daily, so it could potentially drop a lot coming weeks. Making the RR enormous, which makes it worth the risk for me. I am using the stop loss, but in case we move only slightly higher but start to drop again (false breakout), i will probably short it again when that yellow zone breaks.

Note

Almost moving up but we got some rejection now, i want to see it stay below the yellow zone now.

Note

Got some rejection from that yellow zone now, use that as a stop, your entry or at least a tiny loss. Do not use the original stop, because if it gets that high from this point, something else might be going on.

Note

Patience, we are finally dropping now, looking good now, maybe this triangle can give some acceleration down.

Note

Seems i i only posted the previous update in my telegram channel, was a mistake not intentional.

So we got the acceleration down and first target was reached. The game plan is still a much bigger play as mentioned above. So closed half and going to move stop for the other half to the red zone.

For the ones who did not take profit, i would use that trend line as a first stop

Note

Now current update:

Broke the trend line but got rejection from that red resistance zone now. If we brake yesterday's low i will move the stop towards that level

botje11

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

botje11

Also on: