USDCHF Long Trade
Here is my USDCHF long trade i took on the 18th.
this pair is on a strong uptrend and everything on this pair shouts long. so to avoid the greater fool theory and at the same time benefit from this move, i decided to open a long position if the hourly Kumo was compromised to the upside. this happened on the 18th and i opened a long position at 1.1405
the 4Hr chart shows that the trend is resuming because it is bouncing up from the KJ line. Daily dollar index also shows that bulls are in control and as seen in the chart the previous Pinbar tail is eaten up by the bulls today and that is a good bullish sign for me.
As i have mentioned before i use hourly Heiken Ashi bars as my trailing method so i was using it in this trade too.
here are the charts for you to study a little bit further.
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- Daily Dollar index
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- Daily Chart
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- Hourly Chart
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- 4 Hour Chart
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- USDCHF HEIKEN ASHI Exit
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- Hourly Heiken Ashi Exit
Trade was closed after 6 hours and at 1.1485 with 80 Pips of profit.
here is the screen shot of the hourly chart at the time of closing:
USDCHF HEIKEN ASHI Exit
Good Trade, nice use of Heikin Ashi however I could not understand your Exit point.
BTW, thanks for linking to my Blog.
Cheers.
Hi Asher,
It is an honor to have you here buddy. you are right, it was a 4Hr chart and exit was not quite clear. i replaced it with the 1Hr instead.
i move my stop with the previous heiken candle’s open and as it is clear now, price hit my stop and moved a little bit higher. but it is still in the same range and it does not worth the nerve racking wait for it to break to the upside. i have set alarms and will jump in if the alarm is triggered.
Once again, i am proud to see you here and will appreciate if you drop by from time to time.
Cheers.