Looking to short this since it has made a retrace back to 0.5 Fibonacci. For safer entry wait for EMA's to cut for short and MACD to remain below 0 which would confirm this is staying bearish.
Target is the low of support at 0.88389
SL is set just above 0.618 Fib around 0.89800 area
This has rejected the resistance level that I marked out in my previous analysis. My medium term target is 0.86993 although this is still in a bullish mood on MACD and EMA's have not yet crossed so we need to be cautious. It may be better to trade this with short term goals to reach to overall target of 0.86993. With this in mind I have marked out 0.89261 as a...
This has retraced nicely to resistance, from here we can short once we see it reject this area. There is a bigger resistance just above, marked by the red zone, so if it does continue higher there will be another opportunity to short with a more profitable target. For the moment we focus on the current resistance though so using 4HR timeframe look for this to turn...
This found support at 0.876 level. This could now range between the levels indicated of 0.919 to 0.876. USD has been significantly weakening and this is expected to continue so if it breaks the lower support take profit is at -0.272 Fibonacci. Entry should be on retest of the previous support which would now be resistance.
I am highly interested in selling USDCHF if this pair manages to remain below the key structure level marked. My target would be the previous double bottom formation-level marked, remember to always keep your eye on the DXY if I attempt to tackle this pair.
Hey everyone, I just wanted to update you guys on the trade I took last night.
I did end up leaving the trade early where the white arrow is last night. I left the trade early for three reasons. One was because I didn't like the way the candle body closed. Another reason was because i was happy with the amount of pips i court. The last reason is because it was...
Hey everyone, i haven't posted in a while because i wanted to become a scalper instead of being a swing trader.
On my analysis i have took sells on USDCHF because there was a double top pattern on the 15 minute time frame with price also breaking the low of the previous 30 min candle.
Please feel free to comment your ideas down below. Thank you.
Time for us to get our trading heads in gear, the Alkaline team got a great wick entry on this position from the order region. We are confident the price will continue to the downside and that TP will be achieved by the end of today.
COT Data - 25% Short
Hooray, price is now back at the previous resistance level, I see signs of bulls, let's all buy and make millions, HELL NO! Understand how the market works and how banks manipulate retail.
I have drawn a path as to what i think may happen next. I expect a push below the resistance level to gather liquidity before the intended move to the upside. We may not even...
Anyone with open eyes can see that this pair is caught within a range, don't try and fight the markets, let the setups come to you. Be patient, wait for a break of the consolidation phase either way before considering a position, there are plenty more pairs to trade.
This pair is the devil pair, trade with caution!
COT Data - 73% Long