Swing trade signal idea

[Athenafx]

USDCHF Swing Trade Opportunity
by: whop.com/athena-warriors

Sell Entry: 0.89284
Sl: 0.90465
Tp: 0.87095
I'm considering selling USD/CHF at the current levels due to the following factors:

1. Downtrend Bias: USD/CHF has shown a persistent downtrend over recent sessions, marked by lower highs and lower lows.

2. Current Pullback: The pair is currently experiencing a pullback towards a resistance area that previously acted as support.

3. Technical Indicators: Shorter-term moving averages (like the 20-period MA) are starting to flatten or turn lower, suggesting potential weakness in the uptick.

4. Market Sentiment: There's a general risk-off sentiment in the market, which tends to favor safe-haven currencies like the Swiss franc over the US dollar.

 

[Phill88]

Is it justified to set the stop loss (SL) at 0.90465 compared to the target profit level (TP) at 0.87095?

 

[fargana]

Is it justified to set the stop loss (SL) at 0.90465 compared to the target profit level (TP) at 0.87095?

Depends on the lot size. Distant stop losses and take profits are appropriate for small lot positions or when you use small leverage because amount of pips you gain or lose should be compensated by pip value.

 

[jim_]

Setting the stop loss (SL) at 0.90465 compared to the target profit level (TP) at 0.87095 depends on your trading strategy, risk tolerance, and market conditions. It's important to consider the potential reward compared to the risk when setting your stop loss and profit target. You may want to consider using a risk-reward ratio to determine if the potential profit justifies the chosen stop loss level.

 

[fargana]

I’m gradually moving from scalping to swing trading because it’s cheaper (fewer trades mean less spent on spreads) and, on top of that, technical patterns tend to play out much more reliably on higher timeframes. Overall, I think it’s a natural stage in a trader’s growth.