Hi Traders, here is my analysis for EURCHF BUYs. The trade is not ready yet, but this is what I am looking to play out. Theres clear traffic straight into a resistance level for a start. For those who don't understand clear traffic, it is usually when a succession of candles of the same colour head into a zone, and price reverses to usually take out those candles from these key levels. If we combine this theory with 61.8% fibonacci retracement for some institutional buy orders, which are conveniently set at the break and retest of weekly support.. this looks good. Let's see what price does. :)
Comment:
My Buy Bias, was based on the pullback to 61.8. This activated with ZERO drawdown, with extremely tight precision thanks to institution buy limits set at this level. If you press play, the screen flags red as it looks like I said buy, and market went short.. To clarify, I was looking to go long, from the short pullback, which has played perfectly. :)