Hello everybody,
Bullish Gartley pattern near completion.
I also just uploaded a Weekly Forex Forecast video on my youtube channel for you to watch
Stops below the X leg
Taget 1 0.382%
Target 2 0.618%
This pair will likely close with a daily Engulfing Candle so this down move may only be a retrace before continuing higher...Good luck!!!
40+ pips to target
KEEP THE RADARS UP!!!
Any break above the 13 year resistance line, and it'd be very hard to predict where the rally will end.
In any case, I'd expect the price to hit the resistance areas, consolidate and continue up as Jordan considers a response to increased ECB action. I expect that he will deepen negative interest rates to ward off EUR/CHF depreciation. The Swiss economy is...
EURCHF 1.0943 bullish — Rising trend-line from July 31 low has to hold for upside
EURCHF rallied to a new multi-month high at 1.1049 (September 7, 2015) before pulling back to 1.0899 (September 18, 2015 low) to test the rising trend-line from July 31, 2015 low. The latter has to hold in order to maintain the uptrend near term. Strength through 1.1049 would...
Hello everyone we have two patterns on this pair. The targets for the pink pattern are:
1.09283
1.08935
1.08587
Targets for the orange one is:
1.07172
The stop loss would be 1.618 of xa leg
This pair is forming a very solid ABCD pattern as point C was put in place very decisively. The chart is showing the ABCD pattern overlaid with a Fibonacci Extension. Our projection is for this pair to make a run towards the 61.8% to 76.4% Fib extensions but we wouldn't be surprised if it made a run to the 100% level as the pullback was shallow. Pullbacks that...
Despite current negative news and stocks corrections across the globe , EURCHF is holding 1.04 level. This is a sign of strenght and I favour bullish continuation. Also higher lows and a move above the Kumo justify a LONG position
I´m entering long at 1.045 with initial target 1.053 and beyond.
SL below 1.039 on a daily close.
6 Trading Rules :
1. Never add to...
If you have a look at big picture of the markets, usually is easier to have opinion rather than daily noise, and despite of whipsaws and stop hunting.
In my past EURCHF post, the fundamental view is CHF have a negative yield, so why to hold CHF ? Sooner or later market participants will dump the currency.
This seems to be happening today, with all CHF pairs up ....
EURCHF formed a bullish gartley so continuation has a high probability. . This trade has a good risk reward ratio. SL located below 1.0376 on a daily close
6 Trading Rules :
1. Never add to a losing position .
2. Don´t be the first to buy low and sell high ., and don´t be the last one to exit
3. Think like a fundamentalist, trade like a technician .
4. Keep...
EURCHF is looking bullish, one day ahead of the downtrend target expiration date and exceeding the downtrend target ahead of time.
Similarly to GBPCHF, the correction here looks complete.
Hourly looks interesting as well:
Waiting for the next hourly close to enter long.
EUR/CHF - H4 Chart - Gartley Pattern
Here on the H4 chart of EUR/CHF we have a nice Gartley Pattern setup.
With a deep D leg completion giving us nice risk reward and a strong reversal zone.
We must see a completion at D leg before any long entry is triggered.
- SL must go below X
- Target 1 at 38.2% retracement
- Target 2 at 61.8% retracement
Good luck.
You can see the projected targets in the chart.
The daily signal got fired today when range expanded strongly out of the mode.
I'll place a small market order now, and try to capture a retracement as a scale in.
If the weekly signal triggers, we might be in the presence of a very large uptrend.
You can follow Nick Coulby's work for more detailed wave counts.
He's...
EURCHF HAS BEEN FOLLOWING A DESCENDING TREND LINE SINCE THE 6TH OF APRIL WHICH IS NOW COMING TO A HEAD, SUPPORT HAS BEEN FOUND AT 1.0233 WITH MULTIPLE DOJI'S FORMING SHOWING GREAT INDECISION. IT COMES AS WE REACH THE 50% LEVEL OF THE JAN 15TH (SNB BOMBSHELL) TO 20TH FEB RECOVERY ATTEMPT. i WOULD EXPECT A BREAK BELOW TO HAPPEN AND AN OPPORTUNITY FOR A SHORT.
BUT...
THE DOWNWARD TREND LINE FROM THE 6TH OF APRIL ON THE 4H CHART, (THIS IN A BEARISH TREND ON THE DAILY CHART) IT ALSO COINCIDES WITH A FAILURE TO CLOSE A 4H CANDLE ABOVE THE 38.2 FIBONACCI LEVEL OF THE 6TH APRIL TO 14TH APRIL BEAR MOVE.
I WILL BE WATCHING PRICE ACTION FOR A POSSIBLE SHORT TRADE.
As we progress this week the EURCHF is literally side ways giving pattern traders the upper hand. If the market continues lower, we could look to buy the EURCHF back into support structure at 1.0615 which lines up with the bull butterfly. Slightly above we have an AB=CD harmonic move which further gives me confidence about the direction of the market. However if...
