USDCHF | Perspective for the new week | follow- up detail
The momentum drive on the USDCF has been bullish since the beginning of the year and the breakout of the bearish trendline on the daily timeframe coupled with the appearance of a double top look-a-like structure during the latter part of last week's trade session could be a signal of a reversal phase evolving. However, I still hold a strong bullish bias on this pair and the proposed retracement move could be an attempt to retest the structure broken at the 0.95700 area
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade active:
A breakdown of the bullish trendline has happened
Trade active:
Running in profit as price is below the key level at 0.98000. Moving stop to break even
Good morning
Good morning
Trade active:
Break-even and re-entry triggered. With 19pips running in profit, I am moving my stop to break even to protect my position.
Good morning
Good morning
Trade active:
Price appears to be doing a retest of the bullish trendline that was broken to the downside yesterday. So, are we going to see a reversal pattern under this line to incite a downtrend (below 0.98350 for selling opportunity) or is there going to be an outright breakout of the line where a retest will establish a bullish setup?
Trade active:
We finally witness a retest of the bullish trendline to give a bearish signal from a technical standpoint.
Good morning
Good morning
Trade active:
Moving my stop-loss to protect my position
Trade active:
Still running as expected; locking in some profit
Good morning
Good morning
Trade closed: target reached:
TP taken with a total of 225pips profit (double entry)
Trade smart. Trade consciously
Good morning