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)
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...
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...
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
After predicting successful long (100 pip profit), here's what I believe is next for this pair.
- expecting a minor exhaustion at hourly zone
- then looking for price action confirmation e.g. a bullish engulfing candle close (on 4HR TF)
- then entering long until monthly yellow zone
Time frame: (4 hours and 1 hours)
Date & Time: 22 Aug 2018, 16:15 GMT+9
Starting Balance: 3157.96
Graph Showing entry and exit points
Fundamentally USD is a bit weak because of Trump comment but the effect already seen on the market.
On 22 Aug,...
Yesterday's report highlighted an underlying positive tone but an absence of buy signals. That proved correct as trading in USDCHF was muted Tuesday. An early decline found fresh demand near Thursday’s Marabuzo line and the 13 day mvg avg. That bounce did not translate into significant upside but it is the weakness of selling interest that ensures our technical...
Contrary to yesterday's call, 2 days of indecisive price action was followed by a renewal of investor buying interest. The most positive prices for 8 week were posted as the resulting demand took the currency pair towards a test of a 50% correction of the Dec-Feb decline. Overbought extremes are an increasing concern but despite a decline in Asia this morning’s...
this charts are pretty self explanatory: price has recently broke and closed above a previous level of structure and that changes our bias from short (the trend was bearish) to long. And that's why i'm looking to long this pair, with stops below the lows and targets as shown above.
If you want to ask questions or share ideas, feel free to comment...