Hey guys, i'm trying to be the more short i can since this is happening right now. Double bottom with break of structure down on lower timeframes in a nice structure level. Stops below the lows, targets as shown. If you're aggressive you can swith target1 to target2 and let it run. If you have questions or ideas, share below. Otherwise, see you in the next chart!
Hi guys, this is the hourly chart on USDCHF. I'm interested in buying this cross and i'll briefly explain why: first of all, price is testing a key structure level that proved to be strong in the recent past. Then at this level also happens to be the completion point of an AB=CD pattern. In the 4H timeframe RSI is in oversold condition (additional clue). Here you ...
0.985 - important strong support level Bearish scenario: daily close below 0.985 will open the way to 0.97 (200 EMA on Weekly time frame, long term uptrend line). Bullish: reversal around 0.985-0.99 and close above 0.995 - profit targets at 1.004, 1.0155 and 1.0345 Situation similar and correlated to DXY.
Last week USD/CHF came with 1 pip of parity and has sold off steadily since. It seems inevitable that we're headed higher on this pair so the timing of the entry is key. Having just pushed through support and with signs of the RSI turning north a LONG here with a STOP below .98 may pay dividends. LONG USD/CHF from .9814 STOP .9795 for a 19 pip risk.