Jordan analyzes EUR/CHF for a potential intraday short. The pair is consolidating between two boundaries after two false breakouts of highs and a break below a trendline. He weighs aggressive entry against waiting for a pullback, noting that confirming the impulsive structure first could improve risk-reward.
Chapters
What's going on everyone, this is Jordan and today we're going to talk about the euro franc and the potential intraday sell opportunity that I see for the pair. Now first of all, let's start with the higher time frames. On the higher time frames we can see that we're in a clear bullish trend, which means immediately if we're going to be selling, it's going to be a bit more aggressive, right? That must be clear from the very, very beginning of this video. Now furthermore, without going into too much details regarding waves and so on and structures, we can see that on the last part after this push-up, the price started consolidating right here. As long as the price is stuck in between these 2 boundaries, that For me, turns into a range, potential range trade, potential range setup. So if I start going to the lower time frames, such as the 4-hour chart or the 1-hour charts, what I will be looking for is signs that the price doesn't have the momentum to go ahead and break to the upside, since I'm going to be looking for Um, the price to go ahead and push one more time lower, at least versus the previous low, but ideally versus this swing right here. Okay, which also somehow fits with the green line here, right? So from that point on, I believe you start to understand where I'm going with this. I'm looking for this kind of breakout which is already happening. I'm looking for the low to be broken as well, which if we go to the 1-hour chart, we can see. Of course, this is the first— actually, this is H4, but still first false break. Then we have the second false break right here, and those are the 2 most recent highs. So we can see the lack of momentum plus the price action breakout below, and this breakout actually comes along and simultaneously, um, by breaking the low and by breaking the trend line. Now we're actually breaking that newly formed low, which means I am into, um, basically selling here, right? I'm looking to sell. You already know where this structure should be ending approximately, so that's pretty much the whole idea. Now, aggressive protection could be placed right there. But if we start looking at actual structures, we cannot yet validate whether this is going to be an impulsive structure or not because we don't have a low yet. Okay, it could be invalidated with some of the rules of impulsive structures, but if it doesn't as an impulsive structure, I would not recommend aggressive protection right here because then This kind of scenario could be kicking you out of this trade. I would be suggesting a higher protection from the hair points here. And there is, of course, always an alternative how you can be handling that. You can be looking for pullbacks, right? You can be looking for setups. You can be attacking, right? Plenty, plenty of ways to attack this thing. Each of those potential entry methods or approaches that you can be applying here have their pros and cons. First of all, you can be missing if you're waiting for a breakout. Second of all, you can be getting much better risk-reward ratio if you're waiting, and so on and so forth. So you need to decide for yourself which method, which way you would like to go here. But you got the context, so it's your job now to decide if you like it at all, and if you're going to be trading it, how exactly you would like to go ahead and proceed here. So if you have any questions, drop a comment below. We'll be happy to reply. And have a wonderful day. Bye for now.
