Are we looking at a potential reversal here??
Be interesting to see which way this goes.. I’m expecting a strong sell once we’ve broken the support line.
We have a potential long opportunity approaching upon a rejection of the 0.618% Fibonacci, Daily 50EMA, third touch of an inner ascending trendline and round psychological number of 1.0000. Entry price would be 1.00050, with stops of 35-40 pips below. Target 1 would be initially be 1.01250 (Weekly resistance - we have not had a close above this for some time)...
Sweet and simple guys. USDCHF is approaching towards a major level of structure where the price has reacted historically both as a support and resistance. RSI is also in overbought zone hence I will be shorting from here on with a possible tp in the next support level.
Trade safe and good luck.
You can see a resistance zone ( green box ) and a lovely trend line ( TL ) that price has been following and respecting as support for over a month, price recently broke through this TL and is now coming back up to test it as resistance.
Where price will meet the TL is also in our resistance zone so this is a STRONG SELL, line this up with the weakening USD at...
I entered this trade on 15th Feb. Immediately the price fell into profit and I was looking for a close below 1.00500 in order for me to keep the trade open over the weekend. This happened and I as the markets have opened, I am expecting more bearish price action right down to the first target of 1.00000, then the second target of 0.99500.
The price has been...
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
Marked on the chart you can see key support and resistance levels ( green lines ) and where price has touched these key levels ( purple arrows )
Yesterdays candle hit resistance level 0.99892 and retraced, todays candle has also nearly touched this level so we will be looking for price to close below 0.99892 today at market close to see if price is yet again...
USDCHF Potential sell: Rising trend this pattern is still in the process of forming. However there is bound to be a Possible bearish movement towards the support line at 0.9805 (A) within the next couple of days. Hold your horses guys #AllBullMarketsMustEndBadly....
OANDA:USDCHF
I can see CHF taking the lead shortly with this one, although it has broken the downtrend resistance, I feel it's still being quite sluggish moving upwards. I would wait until the next drop to see how strong it is before shorting it. The possible reason for CHF weakening could be due to ongoing BREXIT talks. I would monitor this one very carefully...
Price to RSI divergence. Also trend line break crossing down through the 50 line on the RSI. Nice bearish move at the end of last week. Sell limit on a pull back to resistance.
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
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
