Our RSI reversal strategy has presented a short trade on EURCHF.
Previous trade which was also a short shown to give more of an idea on how the strategy works.
This is a new strategy script we are trialling at the moment.
Entry details are shown on the chart and we are working the 15M time frame.
Take profit is the green line. Pink line is stop loss.
Strong Bearish weekly closure.
Daily chart is in an uptrend but retracing, could potentially retrace to previous daily resistance
H4 - chart in a downtrend.
30m Chart - 100% retracement of previous move to the previous level of resistance presenting a shorting opportunity.
Hi all, hope you all had a great weekend and ready for a fresh week on the charts.
The entry price, stop loss (in pipettes) and take profit are shown on the chart itself.
Just something I'm working on in Pine script, I'll share as many trading ideas as and when I can, so I can document my progress.
My name is Al, I'm 40 and from the UK.
I've been trading for...
EURCHF SHORT. I assume the EURCHF will continue to move within the range of 1.07758-1.08649. We have just reached the top level of this range. That's why I'm in a short position. Target price in the lower level of the range is 1.07758
The price is right on the lower trendline and could breakthrough very soon. It could also bounce from here and continue within the ascending triangle so we need to wait for the move to happen before entering a trade. As can be seen on the MACD this is in a Bearish environment as it is below 0 and 10 EMA is below 20 EMA so this could break very soon. Wait for the...
On this chart we see price has retested a bearish trendline on the weekly chart several times
I see divergence on the daily chart and the 4H which indicates that price could reverse of of this level again and head lower
We will wait for support to be broken and the trendline to be retested before entry
We will be selling to the second support level which is marked...
Over the last 5 weeks EUR/CHF has hit 1.0507, 1.0508 and 1.0503 (current price as of weekend 16/5/2020).
It seems likely that this support line will eventually crumble and once it does there's little support for 200+ pips.
I poised with SELL STOP order placed at 1.0499 ready for what seems an inevitable break.
We may see another bounce before that but I expect it...