On USDCHF we are not at any major level, but we see some previous resistance before. We stopped on a level wich is higher then the previous swing low. If we hold this level and on smaller timeframes (15M, 5M) we get some kind of reversal signal , we can place a long position to a 0.618 ( Goldel ) retracement.
On this pair i see 2 possible trades , firstly a short one and the second a long. As I posted on eurusd, the short one can be a hedging trade for the EURUSD long. I like to trade at zones where fibonacci retracements meet.
In my opinion we are in an uptrend in EURUSD, even on weekly chart we create higher lows and higher highs, so i look only for LONG positions on this currency pair. My idea is to buy in the zone where i put the long signal, but before WAIT for a retest, and a reversal signal ( DOUBLE BOTTOM, DOJI, HIGHER LOW) don't get in without thinking it well. Have a great...
We het my prevous target and retraced in the same zone, where we have fibonacci levels and the triangle's trendline. I look to long if we create a higher low or a double bottom
The widest line is the .23 Fb line on the big weekly downtrend, the dotted line is te last big retracement from 1.05 and the last lines are from last big downfall. I see there nice meeting area for lines and i look for a long when i get a small signal ( double bottom, higher low higher high on 1,5M charts)
I think the lines make it easy to understand , im looking for a good RR short , possible of three reversalals, we already have the pinbar signal
Looking for a small retracement on EURUSD 4h chart, also hitting 200 MA
In the GBUSD uptrend we pulled back to Previous structure high, And we can look for a long position. My trade ( as placed on chart) uses the stoploss under the last swing low, and the TP at last swing high. The blue dotted line is where we can have problems to break above
FIrst oppurtinity: hitting 200MA on 4H chart and a possible triple top, and the second we hit the last LH before consolidation zone