SEEL STOP USD/CHF from .9032 (price now .9056)
The price on USd/CHF hit the WR1 pivot 3 candles ago (H1 time frame) and since thenm we've seen 2 doji candles and the current candle which has 15m to complete looks liek it may well be another doji.
Doji candles are NOT reversal candles as some think.
They are indecision candles.
Its clear that WR1 has seen some sustained BEARISH pressure and there is a battle royal happening around WR1 (.9057) and the BULS and BEARS are striving for domination.
The BULLS look like they all to do to hold these levels.
We've been in and out of overbought for 13 hours and RSI is currently 72.52.
MACD on H1 is moving into negative (slow MA reading lower than fast MA) although currently is stalemate.
The Pivot Point SuperTrend is still BULLISH on 15M but we do have a 11 dots of resistance at .9063.
Andean Oscillator has seen a drop to flat for the green BUY line although since the drop this line has been climbing. All 3 values on the Andean Oscillator are currently grouped at .00060 (green)
.00056 (red) and .00064 (signal line) so we can expect to see these value spread over the next hour or so.
If the green BUY line declines and the red SELL line rises, we will have a SHORT opportunity so I have a SELL STOP at .9032 with a STOP above (.9063) and a target of .8939 though much could happen should this trade trigger.
No news scheduled until tomorrow so the market will drive the price and I expect this trade to trigger in the next hour or so.
Doji candles are NOT reversal candles as some think.
They are indecision candles.
Its clear that WR1 has seen some sustained BEARISH pressure and there is a battle royal happening around WR1 (.9057) and the BULS and BEARS are striving for domination.
The BULLS look like they all to do to hold these levels.
We've been in and out of overbought for 13 hours and RSI is currently 72.52.
MACD on H1 is moving into negative (slow MA reading lower than fast MA) although currently is stalemate.
The Pivot Point SuperTrend is still BULLISH on 15M but we do have a 11 dots of resistance at .9063.
Andean Oscillator has seen a drop to flat for the green BUY line although since the drop this line has been climbing. All 3 values on the Andean Oscillator are currently grouped at .00060 (green)
.00056 (red) and .00064 (signal line) so we can expect to see these value spread over the next hour or so.
If the green BUY line declines and the red SELL line rises, we will have a SHORT opportunity so I have a SELL STOP at .9032 with a STOP above (.9063) and a target of .8939 though much could happen should this trade trigger.
No news scheduled until tomorrow so the market will drive the price and I expect this trade to trigger in the next hour or so.
Trade active:
SELL STOP triggered at .9032.
Structure looking increasingly BEARISH
Structure looking increasingly BEARISH
Trade active:
Structure looking ever more BEARISH - 25, 50 and 100 EMA's are all squeezed together and the price is below the squeeze. .8995 next target - the 200 EMA
Trade closed: stop reached:
STOPPED at +20