Hi guys, I really did missed out on this trade BUT I will have a sell limit if it retraces up to my entry to satisfy my RISK / REWARD RATIO.
If I go short now, it is not worth it anymore.
You can see USDCHF is travelling in a contracting channel so here is the plan:
1. Either way it breaks out we dont care
2. Pay attention to the price if it goes to either of the GREEN support and resistance zone
3. Then we look to short at green resistance and long at green support.
Keep it simple. The only thing that is close to holy grail in trading is horizontal support and resistance.
If I go short now, it is not worth it anymore.
You can see USDCHF is travelling in a contracting channel so here is the plan:
1. Either way it breaks out we dont care
2. Pay attention to the price if it goes to either of the GREEN support and resistance zone
3. Then we look to short at green resistance and long at green support.
Keep it simple. The only thing that is close to holy grail in trading is horizontal support and resistance.