If the daily candle can close engulfing then i will be going short.
-Still uncertainty over the Dollar strength with the Chinese trade war going on.
-Struggling to break through the 1. level
-Each push towards that level has gotten weaker and weaker.
Lets see how it plays out.
Any questions feel free to comment or message.
USDCHF - Intraday - We look to Sell at 1.0015 (stop at 1.0050)
The rally was sold and the dip bought resulting in mild net losses yesterday. Broken out of the wedge to the downside. The formation has a measured move target of 0.9187. Rallies continue to attract sellers. Trading close to the psychological 1.0000 level. We have a 61.8% Fibonacci pullback level of...
-Price reached a major Resistance.
-Formed another area for entry.
-Looking for price to move into a downward direction and a candlestick pattern to also suggest the price reversing.
-Price has also created a 3 impulse pattern to further confirm a turn around:
My BIAS for USD/CHF for the upcoming week is mainly SELL.
My reasons behind this are
-We can see previous Lower Lows & Lower Highs with lows breaking below our most previous Higher Low.
-We will be looking now for price to break our previous LL for a 1:3 RR trade & then form new LL and LH then entering again with a 1:3 RR trade at our new LH.
•I will not...
USDCHF - Intraday - We look to Sell at 0.9865 (stop at 0.9895)
Trades at the highest level in 12 days. There is no clear indication that the upward move is coming to an end. Intraday, and we are between bespoke support and resistance 0.9795-0.9865. The move higher is mixed and volatile, common in corrective sequences. The medium term bias remains bearish....
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
USDCHF - Intraday - We look to Sell at 0.9965 (stop at 1.0000)
A 5 wave bearish count has been completed at 0.9694. Intraday, and we are between bespoke support and resistance 0.9882-0.9965. The rally has posted an exhaustion count on the daily chart. We have a 50% Fibonacci pullback level of 0.9965 from 1.0237...