InsideMarket
Short

EURCHF - An alternate view on current consolidation.

FX:EURCHF   Euro / Swiss Franc
Noticeable range between $1.07 & $1.10.

Happy trading!

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Nice analysis, thanks for share, always good to watch alternative views, my:



+2 Reply
kosai19 PRO Piet.Hein
Thanks... I was just going to post this same chart but maybe I can post something else?
It appears bullish on D1 but on H4 it hasn't broken above the major resistance line yet (making this a more likely false breakout).
I'm new to showing charts so let me try...
+1 Reply
Piet.Hein kosai19
nice view, thanks for share! Yes could be a false breakout, I hope not :p
+1 Reply
kosai19 PRO Piet.Hein
I had to use another program to make this since I can do better charting... not that use to trading view yet, but please have a look. On H4 I agree, we have broken out... but on H4 we clearly haven't. If you look at where I drew those double horizontal lines you'll see it's the H4 resistance. So there's divergence (D1 is bullish but H4 isn't). That's usually when reversals happen. We need a close above 1.0985 on H4 for both time periods to be in agreement. Otherwise it's more likely to at least retest the trendline before advancing.

https://dl.dropboxusercontent.com/u/98363503/Chart%20-%20EURCHF%20%28H4-1%29.png
+1 Reply
Sorry I meant to say on D1 we have broken out of resistance while on H4 we have not...
+1 Reply
Piet.Hein kosai19
nice chart, yes, a close above this level will be perfect and really reinforce a bullish view. Great analysis! If you start to post on TV I will start to follow you, let me know when you do it!
+1 Reply
kosai19 PRO Piet.Hein
Thanks for the encouragement, I'm undecided yet if I'll be posting charts on here... I have a unique view of technicals that I wouldn't exactly want everyone to start using or it would work less =)

Cheers.
+1 Reply
Piet.Hein kosai19
every trader have a unique view, dont be afraid of share, it works for you but dont necessarily work for others, people see what they want to see. Thanks for the link.
+2 Reply
Markets are completely impersonal. They will do what they have to do regardless of anyone special knowledge.
Reply
kosai19 PRO Piet.Hein
By the way... I learned that trick to heck the horizontal resistance on a lower period from Chris Moody... You can see all his charts on here but he shared that on this video: https://www.youtube.com/watch?v=BffJZGatnXE
It's a long video but one of the best I've seen. He teaches this method which someone charged $3,000 for. It's an easy way of spotting fake breakouts.
+1 Reply
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