Currency Pair: EUR.CHF Time Frame: Daily, 4hr, 1hr & 5min Predicted Direction: Long
EUR.CHF updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
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Although the candle spiked above the descending 4hr trendline, it's not a valid breakout. More confirmation required prior to a trade opportunity.
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A breakout to the downside has occurred, this for me invalidates the trade opportunity. No Trade.
I understand your point of view but I do not agree with it. On the 4H timeframe, bears have held it below the 50MAV since April 30th. We also have the bearish crossover on the MACD oscillator on the Daily timeframe which April 27th. And with the pair sitting on overbought territory on both the Weekly and Monthly charts, I'm inclined to short this pair.
om.deuja.chhetri
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@zader33, same opinion
Profound_Ambition
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@zader33 wait for a breakout stop trying to predict the market..
Premium_Tendies
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@eazywayout, from what I can tell, that's what you've built your profile on: trying to predict the market. And if you read my analysis, my trade was placed after three fairly strong indications of a downward move.