HELLO EVERYONE,
PLEASE SEE ATTACHED MY CHART ANALYSIS FOR USDCHF ON THE 1H TIME FRAME.
AS WE CAN SEE THE MARKET HAS PUSHED DOWN TO A SUPPORT LEVEL /AREA AROUND THE .89472 MARK.
PLEASE SEE BELOW MY REASONS FOR A POTENTIAL LONG TRADE:
- WE HAVE HAD A TOUCH AND CURRENTLY WE HAVE A HAMMER FORMING WHICH IS A PIVOT CANDLE TO POTENTIALLY SHOW SIGNS OF A REVERSAL.
- WE ALSO HAVE A LOW RSI PUSHING TOWARDS THE OVERSOLD AREA.
I WOULD WAIT TIL THE HOURLY CANDLE HAS FORMED AND THEN IF WE GET A BULLISH CANDLE LOOK AT PLACING A BUY POSITION WITH THE BELOW TAKE PROFITS AND STOP LOSS:
- SL: 0.89460
- TP1: 0.89800
- TP2: 0.90000
ANY LIKES OR COMMENTS WOULD BE MUCH APPRECIATED.
DWFX
PLEASE SEE ATTACHED MY CHART ANALYSIS FOR USDCHF ON THE 1H TIME FRAME.
AS WE CAN SEE THE MARKET HAS PUSHED DOWN TO A SUPPORT LEVEL /AREA AROUND THE .89472 MARK.
PLEASE SEE BELOW MY REASONS FOR A POTENTIAL LONG TRADE:
- WE HAVE HAD A TOUCH AND CURRENTLY WE HAVE A HAMMER FORMING WHICH IS A PIVOT CANDLE TO POTENTIALLY SHOW SIGNS OF A REVERSAL.
- WE ALSO HAVE A LOW RSI PUSHING TOWARDS THE OVERSOLD AREA.
I WOULD WAIT TIL THE HOURLY CANDLE HAS FORMED AND THEN IF WE GET A BULLISH CANDLE LOOK AT PLACING A BUY POSITION WITH THE BELOW TAKE PROFITS AND STOP LOSS:
- SL: 0.89460
- TP1: 0.89800
- TP2: 0.90000
ANY LIKES OR COMMENTS WOULD BE MUCH APPRECIATED.
DWFX