USDCHF - Sell Opportunity, Confirmation Needed!
Keep an eye on this level:
1. Fibonacci Golden ratio 62% from smaller tip
2. Fibonacci retracement level 38% from the recent highs.
3. The trendline
4. The equal waves endpoint
5. Most powerful round number 1.00000
6. Previously worked support level becomes resistance
7. Different timeframe EMA's
Really nice setup BUT definitely wait for a bearish candlestick pattern around the blue box which is the mentioned confirmation!
Fundamentally - Interest Rate Decision is on Wednesday which is highly volatile news, if the price is not moved lower than the marked level then this setup is invalid, because the volume can ruin it easily.
The setup looks great! To be more secure, as said, wait for a bearish candlestick pattern, at least on the 4H timeframe!
"Putting on a winning trade or even a series of winning trades requires absolutely no skill. On
the other hand, creating consistent results and being able to keep what we’ve created does
require a skill. Making money consistently is a by-product of acquiring and mastering mental skills."
– Mark Douglas
Feel free to support my effort by hitting the "LIKE", it is my only fee from You!
Best regards,
Vaido
1. Fibonacci Golden ratio 62% from smaller tip
2. Fibonacci retracement level 38% from the recent highs.
3. The trendline
4. The equal waves endpoint
5. Most powerful round number 1.00000
6. Previously worked support level becomes resistance
7. Different timeframe EMA's
Really nice setup BUT definitely wait for a bearish candlestick pattern around the blue box which is the mentioned confirmation!
Fundamentally - Interest Rate Decision is on Wednesday which is highly volatile news, if the price is not moved lower than the marked level then this setup is invalid, because the volume can ruin it easily.
The setup looks great! To be more secure, as said, wait for a bearish candlestick pattern, at least on the 4H timeframe!
"Putting on a winning trade or even a series of winning trades requires absolutely no skill. On
the other hand, creating consistent results and being able to keep what we’ve created does
require a skill. Making money consistently is a by-product of acquiring and mastering mental skills."
– Mark Douglas
Feel free to support my effort by hitting the "LIKE", it is my only fee from You!
Best regards,
Vaido
Comment:
Great rejection from the marked area and we have a breakout confirmation from the counter trendline (light blue) on 1H timeframe:
Hopefully, FED brings more volatility to the downside, secure your trades before it happens!
Trade closed: target reached:
Okay, that is INSANE :D