Kumowizard

USDCHF - mixed, it will be hard to play short term

FX:USDCHF   U.S. Dollar/Swiss Franc
129 3 1
Indicators got very mixed on the two different time frames. Certanly it will be very difficult to play USDCHF             now. Very likely charts of other USD crosses show same confusion, I will check it later, but now let's see the USDCHF             odds.

Daily: Price reached the Kumo and the downtrend line, where printed a Hanging Man reversal candle. Slow Stoch gave a sell signal too. It was enough warning signal for bulls to close longs. What's more MACD is turning down slowly as well. It can easily happen that we see a pull back at least to the Kijun sen 0,8825.

4 Hrs: Meanwhile 4 Hrs is still slightly bullish , maybe it will swing up one more time from this 0,8860-65 level, as the Slow Stoch is very much oversold and starts turning up, and also price may find some support here at the trendline, 100 WMA and still trades above the Kumo. Anyway if someone decides to go long or add to longs here, has to place strictly a stop below 0,8850.

In fact the two timeframes together don't really support bulls from now. I think we have to stay very much focused, as in case price breaks below 0,8850 on the 4 Hrs time frame in the next sell wave, that will confirm the bearish signals already visible on the daily chart , and price will quickly drop lower.
digitaltradingfx
2 years ago
Same thing here i m actually short now but i ll close it as this is a major turning or continuation point i was laning towards a short but it better to waitt for a confirmation
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Kumowizard PRO digitaltradingfx
2 years ago
yes. I was small short too from 0,8940, but closed too early. Here I don't know what to play. Let's see how it will deal with the next pop up, how high the price can go from here. If fails to print any nw high, while indicators (100 WMA and the Kumo) come higher, the next round will be a good sell on a break.
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digitaltradingfx Kumowizard
2 years ago
Thanks for the intelligent and well thought out outlook you can check a few of my ideas and tell me what you think i ll make sure to follow now and hope you can do the same looking forward to more ideas from you :D
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