USDCHF Inside week and a potential XYAB pattern
USDCHF has an inside week last week. I believe every breakout direction of inside week is important, while not every one worth trading.
Most of the time weekly chart are for mid-term to long-term analysis, not really very suitable for day trading and leverage trading with regard to time and overnight cost.
However, the bigger picture matters of course, so I still turn to weekly chart on every Monday to decide the long/short preference this week.
Here in this chart, there are 3 potential trading ideas:
1. inside week breakout
2. inside week breakdown
3. XYAB Pattern
I won't trade all of the above directly, but if it completes the trading set-up, it may pretty much influence my long/short preference.
What's more, the high and the low of the inside week are both figures, which may kind of enhance the power of the breakout although Forex doesn't regard fig levels as much as stocks.
Bottom line, I don't predict it will go which one of the 3 trades, actually I never do.
All I want to do is to "recognize a trend and participate it". Prediction has nothing to do with my trading philosophy.
Most of the time weekly chart are for mid-term to long-term analysis, not really very suitable for day trading and leverage trading with regard to time and overnight cost.
However, the bigger picture matters of course, so I still turn to weekly chart on every Monday to decide the long/short preference this week.
Here in this chart, there are 3 potential trading ideas:
1. inside week breakout
2. inside week breakdown
3. XYAB Pattern
I won't trade all of the above directly, but if it completes the trading set-up, it may pretty much influence my long/short preference.
What's more, the high and the low of the inside week are both figures, which may kind of enhance the power of the breakout although Forex doesn't regard fig levels as much as stocks.
Bottom line, I don't predict it will go which one of the 3 trades, actually I never do.
All I want to do is to "recognize a trend and participate it". Prediction has nothing to do with my trading philosophy.
Comment:
The inside week breakout hit 1:1 area, weekly chart analysis is still so important in terms of directions
