While searching for use-cases for TD Lines based Strategies, I found out that CHFJPY seems to be sensitive to TD Lines/ Trendline-based Signals.
Using TD Points Level 3 reduces the number of Signals but increases the Reliability. As a Strategy for taking Profit, I use the 3-Day-Trailing-Stop-Rule (3DTSR) by Peter Brandt.
Here are the full Settings.
Looking at the Backtests - Net-Profit is high, while Drawdown is low.
Recently, the current TD Supply Line was broken and a Buy-Signal was issued that still looks very valid.
So it would be a good Idea to have a look, how the markets open on Sunday-Night (depending on where you are ...) and then enter the trade on a pullback.
Using TD Points Level 3 reduces the number of Signals but increases the Reliability. As a Strategy for taking Profit, I use the 3-Day-Trailing-Stop-Rule (3DTSR) by Peter Brandt.
Here are the full Settings.
Looking at the Backtests - Net-Profit is high, while Drawdown is low.
Recently, the current TD Supply Line was broken and a Buy-Signal was issued that still looks very valid.
So it would be a good Idea to have a look, how the markets open on Sunday-Night (depending on where you are ...) and then enter the trade on a pullback.
Trade closed: target reached
Price went up, time to take some profit. Partially profit taking would be an idea - RSI is far away from being overbought - maybe close out 50% of the position and let the other 50% runNote
That was a perfect Entry - Price went up to almost 113!!!
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⚡ ProTrend buy.stripe.com/4gweV49BN5Be4da8wx
⚡ GET THE CCIDivergence STUDY FOR FREE: bit.ly/CCIDivFree
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
⚡ ProDivergence buy.stripe.com/3cs14e15h6FiaBy6oo
⚡ ProTrend buy.stripe.com/4gweV49BN5Be4da8wx
⚡ GET THE CCIDivergence STUDY FOR FREE: bit.ly/CCIDivFree
⚡ ProTrend buy.stripe.com/4gweV49BN5Be4da8wx
⚡ GET THE CCIDivergence STUDY FOR FREE: bit.ly/CCIDivFree
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.