USDCHF: Top of the structure, looking for Market Reversal!
Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the USDCHF, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
Higher timeframe:
Lower timeframe:
Since the beginning of September, the market started rising up into a corrective formation, recently approaching its previous swing at the top of the main structure. A double top and a rising wedge around that area, are a first clue of a potential losing of momentum, with the possibility to see a market reversal.
In lower timeframe, the market is still performing a series of random short term movements, still moving slightly to the upside.
When, where and why would we step into the market?
The overall Bias for this market is quite bearish considering how many times the market got a rejection on the current level, however not yet many LTF confluences to enter any short position.
We would be waiting for more confluences during the upcoming trading week but the best and moderate trading setup at the moment, is to wait for the market to break the main structure to the downside, entering short on the first bounce and/or at the correction after breakout.
Note that a breakout of the current swing and further bullish price action at the same level would invalidate the short bias analysis and the overall setup!
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.
Higher timeframe:
Lower timeframe:
Since the beginning of September, the market started rising up into a corrective formation, recently approaching its previous swing at the top of the main structure. A double top and a rising wedge around that area, are a first clue of a potential losing of momentum, with the possibility to see a market reversal.
In lower timeframe, the market is still performing a series of random short term movements, still moving slightly to the upside.
When, where and why would we step into the market?
The overall Bias for this market is quite bearish considering how many times the market got a rejection on the current level, however not yet many LTF confluences to enter any short position.
We would be waiting for more confluences during the upcoming trading week but the best and moderate trading setup at the moment, is to wait for the market to break the main structure to the downside, entering short on the first bounce and/or at the correction after breakout.
Note that a breakout of the current swing and further bullish price action at the same level would invalidate the short bias analysis and the overall setup!
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.
Trade closed: target reached:
We entered a position the last week, after the breakout and correction.
The market didn't push that much to the downside and it's now correcting with a bigger and deeper structure.
However, although we didn't reach the full target as described, we were able to save a partial, closing the position up 1.5%
Sincerely,
Cybernetics Trading Lab
We entered a position the last week, after the breakout and correction.
The market didn't push that much to the downside and it's now correcting with a bigger and deeper structure.
However, although we didn't reach the full target as described, we were able to save a partial, closing the position up 1.5%
Sincerely,
Cybernetics Trading Lab
The price developed a bigger structure, a potential breakout during the upcoming week could be a good entry for a nice short!