USDCHF posted a green weekly Heiken Ashi candle. This suggests to me that it may post another next week. A green daily Heiken Ashi candle was posted after a red candle on the daily time frame. This is the second signal I require to make an entry.
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A view from the daily time frame. Notice a green candle posting after a red candle.
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Switching back to traditional candlesticks, I can get a better idea of my entry and stop loss.
This is an interesting set up. I may be market ordering into this pair when the markets open again for the week and placing a stop loss just below the local low on the daily time frame. This is all dependent upon what price does when the market opens. If it gaps up in an extreme way, I may place a limit order and wait for a pull back. If it gaps down below the local low, I will no longer consider and entry for this pair.
This is an interesting set up. I may be market ordering into this pair when the markets open again for the week and placing a stop loss just below the local low on the daily time frame. This is all dependent upon what price does when the market opens. If it gaps up in an extreme way, I may place a limit order and wait for a pull back. If it gaps down below the local low, I will no longer consider and entry for this pair.