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.
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...
We can see that price has respected this lovely trendline TL many times before, and we are expecting price to continue doing this... So we are going long on this position with a possible very good risk to reward target.
Get on this trade and thank us later... mines a vodka and redbull :p
I am demo trading and documenting my progress. This is not intended to be a sell signal !
Ascending Trendline Structure on 4H
Currently Trading Between Support & Resistance Zones
Sell Limit - 1.00950
TP - 0.9995
SL - 1.0127
two very strong resistance zones on the daily chart, as you can see the market has been rejected over 10 times at these levels since 2013. This is a very high probability trade, with an amazing Reward/Risk of 4:1
A rejection of the up trending trend line with a printed bullish engulfing confirmed for me that momentum would continue up to the 0.96800 area. Hitting target perfectly before now a possible new higher low being created.
The price is sitting within a very important area containing the monthly support / resistance and also a powerful demand / supply zone. At the moment it is pushing to break the monthly pivot along with the 78.60% fib level, I will not be entering until there is a clear break of this blue zone and a show of power to the upside. Possibly then heading back to the...