Finally a completion of a 3 level moves for USDCHF! Last week, the analysis point us towards a drop in USDCHF for week 52, and fortunately it did end up a lot lower with a new level 3 zone. This three level downward moves did throw me off a little with the high of level 2 zone getting to same level as zone 1, it triggered my paranoia of a high/low rest. Currently we only see half of the W being formed therefore I have yet to put a rectangle on the level 3 zone.
For week 1 of 2019, ideally a candlestick pattern to push the price up so to confirm a complete W shape before we can take a good long position. With the absence of a complete reversal formation, long can also be entered at a smaller position. You can build up the long positions with longer monitoring frequency.
If you have shorted in week 52, you would have net a good profit before the market closes. I changed my outlook of USDCHF to a long from short in week 51. However, do note that level usually stops at three but not always they will end off at three zones. For USDJPY, we have seen the fourth zone in week 52.
Be flexible, stay open and be ready to take on positions on the other side! Hope your 2018 has been great and continue the great work in 2019!
If you have any thoughts on USDCHF's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
For week 1 of 2019, ideally a candlestick pattern to push the price up so to confirm a complete W shape before we can take a good long position. With the absence of a complete reversal formation, long can also be entered at a smaller position. You can build up the long positions with longer monitoring frequency.
If you have shorted in week 52, you would have net a good profit before the market closes. I changed my outlook of USDCHF to a long from short in week 51. However, do note that level usually stops at three but not always they will end off at three zones. For USDJPY, we have seen the fourth zone in week 52.
Be flexible, stay open and be ready to take on positions on the other side! Hope your 2018 has been great and continue the great work in 2019!
If you have any thoughts on USDCHF's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
