Possible buying opportunity in EUR/CHF in the next few days! We have been going through a daily descending correction over the past couple of weeks, this shows a lack of intent for price to push lower. If we see buyers come into the market and push price up impulsively then there may be a possibility of a buying opportunity from a higher low point. The first potential entry will be after the break of 1Hr structures or a strong bullish candle from what looks to be like a smaller descending correction. The second entry will be a confirmed impulsive break of previous 4Hr lower high at which place we can look for a descending correction from which to enter. The EUR is bullish so this gives good confluence that we could be looking for some upside in EUR/CHF, we just need to wait for strong bullish price action to confirm intended direction of price before entry.
Yeah of course mate, I completely agree. If there’s no price action and structure shift then as you say it could very well melt down to those levels. Do you mainly use fundamentals for your trading?
Hot21Chicos
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With all due respect, there is very little reason to be bullish on EUR vs CHF. Simply, CHF overall is stronger currency then EUR. Do not need TA at this point toreason my short position on EUR all the way down to 0.80 area.