EURCHF is forming a really nice bearish crab formation with first major resistance at 1.1818 (Fibonacci extension, bearish crab harmonic formation, bearish price action) and a strong reaction could occur at this level to drive price down towards 1.1783 support (Fibonacci retracement, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance...
The trigger for a short entry would be a daily close (5 pm EST) below channel support. However, there is a trend line that extends from the October low that was just breached on a 4-hour closing basis. From here any retest of the 1.1620/30 area as new resistance will likely encounter an influx of selling pressure. Key support comes in at the channel bottom near...
Bullish trend Broke trend line, and still consolidating I would prefer to enter from 1.14 Trade with care Good luck!
From the previous two trading session, the Swiss Franc 0.39% descended strongly against its major Forex currencies. An acquaintance of mine has told me that although no news of it was there, it seems that the SNB (Swiss National Bank) has intervened with the Swiss. When I started stock and forex trading, I've already heard rumors and sayings that the Swiss Franc...
Our preference: sales position below 1.1045 with targets at 1,1015 & 1,0990 in extension. Alternative scenario: in excess of 1,1045, aim for a continuation of the rise with 1,1060 & 1,1075 in line of sight. Comment: the slip under the 1,1045 constitutes a negative signal which opened the way to 1,1015.
Our preference: position bought above 1.0865 with targets at 1.0900 & 1.0910 in extension. Alternative scenario: in break of 1,0865, a continuation of the decrease will be envisageable with 1,0850 & 1,0835 in line of sight. Comment: The RSI militates for a rebound.
Hey Guys, Simple idea, wait for breakout and start trading the move! - Hola Chicos, Idea simple, esperad al breakout y operad el nuevo mivimiento! Carlos
We can see the EURCHF is nearing a major support level and if we look at the 1W + 1M charts, we can see sellers are slowly diminishing and momentum is changing in favour of buyers, however we may see this manage a leg lower before price can move up. A conservative entry would be to wait for a break of the downtrend line, whilst staying above the uptrend line and...
I believe that successful trading strategies rely heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. Consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be a continuation or reversal. It requires...
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EU just came out with new economic figures. Expected Consumer Price Index stats were delivered without shaking this short setup, I have been looking at this week. CHF came out with unchanged interest rate, also following consensus. I've a floating SL around the 200ema and expect it to hit around 1.06400, which is a previous tested psychological level.
We see the price fall by the end of the week to 1.0540 - The setup will invalidate if the price breaks 1.0860 level.
Price is currently forming a descending triangle pattern. Although this is a bearish price action pattern, we need to see a break of the zone before confirming. Therefore, it is safe to say there are 2 possible outcomes to price this week. Look for a break and retest of either the TL before going long to the next resistance or a break and retest of the weekly...