Rising wedge recently been broken, support seems strong but not as strong as the resistance. Expecting either a possible right shoulder to create a head & shoulders pattern or we may just get a straight break from this support zone. Down to fill the range
Trend Transition/Break of structure
I will be entering a long position following the retest of any of
the two levels marked.
Anticipating a new higher high of new structure.
Also keep an eye on the formation of the bearish Bat.
Patterns are not guaranteed, so trade the now and secure the bag
Price following this large downward channel after breaking out of the daily trendline a few weeks ago. Now within this smaller, rising channel. We can see a breakout although price seems to be creating a potential correction for further continuation. Looking to go short on the breakout of this correction trendline down to the bottom of this current rising channel,...
As seen in a recent post of mine I am looking too short USDCHF. I did not enter the previous trade as I was waiting for a strong break and retest on daily before entry but I am still looking to short.
We are now retesting a broken weekly TL and are forming a nice bearish inverted hammer on 4H and if this closes I will be shorting to 0.9900 for around 80 pips. SL...
Possible sell for USDCHF. Price has remained below the 200 and 50 EMA indicating a short bias. This idea is an update to the previous idea I uploaded on this pair, indicating that the price has completed a successful re test to the trend line and should now head down as the dollar weakens. I have set a reasonable stop loss just over the trend line for the rare...
Expecting pattern completion at 0.98240 before anticipating a minor rally. However, the butterfly pattern can also complete at 1.618% so I'll be keeping a look out for price action at both of this levels but I am favouring completion at 1.27% (0.98240)
I am relatively new to the trading scene and recently have been studying techniques using raw price action. I am also trying to improve on my swing trading as this fits into my daily routines/lifestyle better.
In this analysis I will be waiting for a break of key level 0.99 (also I believe to be a phycology level), before shorting this pair for around 300...
Possible move for USDCHF. Price has recently made a big move to a local support line which usually results in a strong pullback for the immediate next bar. I believe this will be the pullback move to the trend line and then the price will continue to head downwards as you can see from my arrows. I will wait for conformation from the next candlestick and then enter...
Price broke bearish and retraced bullish. I have marked the grey line which would be a 50% retracement of the bearish move. Price has formed bearish divergence and potential to move bearish towards to green line i have marked.
Risk exposure - 1%
Risk to Reward - 1:2
Happy Trading All.
USDCHF looks like its pulling back,bulls tried turning diagonal resistance into support but with the daily closing inside it looks like they have failed.
Do not feel comfortable shorting, reason being strong key resistance turned support just below (Nov/March high) and 0.382.
Bulls did not set much support on the way up so losing the 1.01250 level could cause a...
This pairing is in an interesting place at the moment because it is reaching weekly highs it hasn't seen since August 2010... 9 years, price is currently 100 pips away from this level so we could see a bullish run up to it.
Another possible outcome is the 1 we have drawn on the chart, price could come back down to retest this trend line that has formed and make a...