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
i've been looking at this pair often lately, and i'm still looking to sell this because i think we need to see a relief rally before eventually continuing to the upward direction. At this moment, we're testing a very strong resistance level, both weekly and daily, and we're doing so in overbough condition (heavy overbought). On a lower timeframe, such as ...
in front of you, there's the hourly chart of USCHF. The yellow box represents a daily level of structure that i've pointed out in my higher timeframe analysis; this is also associated with a strong overbought condition (more than 7 consecutive green candles on the daily) and a divergence on the 4H and 1H charts. In this case, we also have a double top ...
Tuesday’s strong move to 2 month highs was aggressively reversed yesterday. Selling pressure was the dominant feature throughout but post FOMC price action saw the decline strongly deepen . This move took USDCHF back to the key 13 day mvg avg – though that point was unbroken on a closing basis but although Asia has not maintained its lows our signals for sentiment ...
We've got this pair currently rejecting 23.60 Fib level but I believe it will push through this. USDJPY is moving in the same direction and these pairs like to move together, I will be shorting this down to 0.98364 support area. Could see a retrace back to the same fib level but have some US news coming up later where the outlook looks negative, so may not want to ...
descending trend line
hit the fib level of 61.8
over 4 types of resistance correlating at the entry price
stop loss over the next higher fib level
4h our bearish
nice easy drop do to most recent low