usd chf potential long idea

Sep 23, 2021

1. Basic Rules

a. Only take Long when the price is above the 50 and 200 EMA in D1
b. Only take Short when the price is below the 50 and 200 EMA in D1

2. Check Market Structure using Daily TF
a. Look for trends
i. Long – look for higher highs
ii. Short – look for lower lows

3. Use Fibonacci Retracement tool
a. Bullish bias – draw Fib tool from start of move below to new higher high
b. Bearish bias – draw Fib tool from start of move above to new lower lows

4. Wait for price to pullback from higher highs or lower lows to acceptable Fib level (38.2% or 50% or 61.8% levels)
5. Look for trading edge on these levels using H4 timeframe
6. Enter trade using H4 timeframe using VMC buy or sell signals
7. Stop Loss – Place stop using the previous swing high or swing low in H4 or the next Fib level
8. Take Profit
a. TP1 = 1:1 RR
b. TP2 = 1:2 or trail profit

Indicators: Vu Man Chu Swing Free by Jazal, 50 and 200 EMA