📊📈 "Analysis of USDCHF: Resistance and Support Levels" 💡📉
💹 Let's review our previous analysis and update this chart, taking a look at this currency pair for trading in the futures.
💡 In higher timeframes and on the weekly chart, we are approaching a weekly resistance. The last encounter with this resistance was almost 200 days ago, and now we're back to it. Currently, we have a bearish chart in higher timeframes.
🕰️ In the four-hour timeframe, we're in an upward trend, and all our cycles are upward, facing and reacting to the resistance at 0.91447.
🎯 For a long position, our resistance is clear and of short-term nature. After breaking the line at 0.91447, we can open our long position in the direction of the trend.
📉 However, for a short position, although we are in a downtrend in higher timeframes, we can consider changing the trend sooner. In this timeframe, we have an upward trend line, and after breaking it, we can open a short position.
💰 If you need a trigger for this upward trend line, if we stay below the support at 0.91442 for a while, our entry trigger will be around the line at 0.90895 in about two days. And if this candle falls sharply, our entry trigger will be the break of the line at 0.90077.
🔄 If we break this resistance, it means that we closed above the resistance line, but the next candle returned below the resistance with greater intensity, you can consider this move as a Fake Breakout and go to a lower timeframe. After breaking the first short-term support, you can open your short position.
💼 From the upcoming resistances, we have 0.92234, 0.93407, and 0.94374. Our upcoming supports are 0.90895, 0.90077, and 0.88888. If this four-hour candle continues to close in the same manner, you can open your long position with a stop behind the candle.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
💡 In higher timeframes and on the weekly chart, we are approaching a weekly resistance. The last encounter with this resistance was almost 200 days ago, and now we're back to it. Currently, we have a bearish chart in higher timeframes.
🕰️ In the four-hour timeframe, we're in an upward trend, and all our cycles are upward, facing and reacting to the resistance at 0.91447.
🎯 For a long position, our resistance is clear and of short-term nature. After breaking the line at 0.91447, we can open our long position in the direction of the trend.
📉 However, for a short position, although we are in a downtrend in higher timeframes, we can consider changing the trend sooner. In this timeframe, we have an upward trend line, and after breaking it, we can open a short position.
💰 If you need a trigger for this upward trend line, if we stay below the support at 0.91442 for a while, our entry trigger will be around the line at 0.90895 in about two days. And if this candle falls sharply, our entry trigger will be the break of the line at 0.90077.
🔄 If we break this resistance, it means that we closed above the resistance line, but the next candle returned below the resistance with greater intensity, you can consider this move as a Fake Breakout and go to a lower timeframe. After breaking the first short-term support, you can open your short position.
💼 From the upcoming resistances, we have 0.92234, 0.93407, and 0.94374. Our upcoming supports are 0.90895, 0.90077, and 0.88888. If this four-hour candle continues to close in the same manner, you can open your long position with a stop behind the candle.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
