DislikedHi Guys,
Im new to this forum, really love it and learning all the time. Just wanted to bring some input to the table. Below is a trade im waiting to line up, i would be keen for others opinions. Just waiting for the price action to fall into place. Shanetrader.......
Im looking for a long trade on the USD/CHF,
Reasons,
1. Uptrend retracement approaching 61% fib level.
2. Retracement lining up with 365ema
3. Retracement also lining up with weekly trendline shown.
4. Strong Resistance at the 1.0900 region
Obviously wait for the correct...Ignored
Welcome to the thread glad you are liking it.
I would agree into this region is a nice area to potentially watch for a trade. We have been falling pretty hard as of late so the PA has to be significant enough against this current move. But I think your zone to be watching is fine. I would be careful with already pre-determining what your reward is going to be. In my view we need to take into account the PA we execute off and what is possibly in the way after that happens(if we get any good PA).
Again welcome
Mike