USDCHF | Perspective for the new week
The price moved in our direction (180pips) as predicted in my last speculation on this pair (see link below for reference purposes).
After a 2 month long battle, Buyers finally broke above the key Fr0.89300 level (neckline) on Thursday... A complete reversal pattern is formed (Inverse Head and Shoulder) as I anticipate a rally soon.
Tendency: Uptrend ( Bullish )
Structure: Reversal pattern (Inverse H & S)| Breakout | Supply & Demand
Observation: i. It is fascinating to see how my Key Level @ Fr0.89000 becomes a decision maker last week after an emphatic breakout.
ii. Buyers finally redeems the hope of going Long in the coming week(s).
iii. After finding bottom @ Fr0.87600, Price has continued to appreciate as it keeps finding Higher Highs till the Breakout happens.
iv. I can not ignore the appearance of the Inverse H & S (a very strong reversal pattern); Bearish Leg that began mid-2020 falls to make a Shoulder and then rises to the Neckline(Fr0.89000); price then falls again and below the former Shoulder to make a Head and then rises again; finally, the price falls again but not as far as the second Shoulder to usher in a successful Breakout.
v. Looking forward to a correction into Demand zone as I shall watch out for significant spring up from this proposed new Demand area.
Trading plan: BUY confirmation with a minimum potential profit of 200 pips.
Risk/Reward: 1:4
Potential Duration: 10 to 20 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
After a 2 month long battle, Buyers finally broke above the key Fr0.89300 level (neckline) on Thursday... A complete reversal pattern is formed (Inverse Head and Shoulder) as I anticipate a rally soon.
Tendency: Uptrend ( Bullish )
Structure: Reversal pattern (Inverse H & S)| Breakout | Supply & Demand
Observation: i. It is fascinating to see how my Key Level @ Fr0.89000 becomes a decision maker last week after an emphatic breakout.
ii. Buyers finally redeems the hope of going Long in the coming week(s).
iii. After finding bottom @ Fr0.87600, Price has continued to appreciate as it keeps finding Higher Highs till the Breakout happens.
iv. I can not ignore the appearance of the Inverse H & S (a very strong reversal pattern); Bearish Leg that began mid-2020 falls to make a Shoulder and then rises to the Neckline(Fr0.89000); price then falls again and below the former Shoulder to make a Head and then rises again; finally, the price falls again but not as far as the second Shoulder to usher in a successful Breakout.
v. Looking forward to a correction into Demand zone as I shall watch out for significant spring up from this proposed new Demand area.
Trading plan: BUY confirmation with a minimum potential profit of 200 pips.
Risk/Reward: 1:4
Potential Duration: 10 to 20 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Comment:
Finally, our Demand area @ Fr0.89ish appears to be established.
Trade smart. Trade consciously
