T16 – CAD/CHF

ENTRY

IDEA (D)

formulate a trade idea – your analysis, a likely possibility // set-up play out

download (5).pngPrice is trading between a larger weekly range. It already bounced off support and has bullish momentum to retest the resistance – an area tested multiple times already. This could be the last leg in this uptrend. Take profit might be a bit too conservative but will it up to management (depending on buyer’s strength) to change it later.

SETUP (4H)

trigger for the mentioned idea, what you want to see: clean impulse + choppy correction

download (6)Possibly a triangle as well but listing it as a rectangle due to the pinbar. ABC has completed and limit order triggered at the end of Wave C. Additional confluence: Stochastic came out of oversold levels on an uptrend (100SMA) – a systematic buy signal.

TREND on entry timeframe & 4H chart, determined by SMA if subjective (✓)

IMPULSE registering ADX>25 (✓) ADX37

COIL structure clear formation relative to prior impulse (✓)

Flag // Rectangle // Pennant // Wedge // Triangle // Diamond

Fibonacci 50%–61.8% // S&R Level // Trend Line // Moving Average

Simple // ABC // ABCDE // Extended Combo

ORDER

Entry @ Break of Structure // Area of Value + Candlesticks

Stop Loss @ +1ATR away from last wick // Before Impulse Start

Take Profit @ Length of Prior Impulse // Next Area of Value

1% capital risked for potentially 1.7R

Entry: 0.753 | Stop loss: 0.7435 (-95 points) | Take Profit: 0.7698 (+168 points)

MANAGEMENT

If running >1R + swing established, risk halved

download (4)If 20% left to take profit, shift to break even

If strong momentum + space to run + aligned with long term view, extend take profit and use trailing stop

EXIT

download (9).png

Stop Loss

Manual. Reason:

Trailing Stop

Take Profit

Remarks: TP level was extended slightly after the show of strong bullish momentum – result 2R

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