swissmoneymakers

USDCHF - Pullback Trading Idea - Counter-Trend Trading

Long
FX:USDCHF   U.S. Dollar / Swiss Franc
Hi Traders!
The market is in a Downtrend.
Let's begin with the weekly!

Here is it:


The market is here in a Downtrend.
Let's take a closer look to the the Price Action around the Support.
At first we had a Downmovement, but the Support held and the market turned over.
Then it came back again, but same thing: Market holds and turns over.
After that, the market broke through the Support and made a ner Low.
This is a new Low since July 2017!

Moving further to the Daily:


The market is here also in a Downtrend.
It broke through Support and retested it also successfully.
Now we have to observe what the market is doing in the red area.

Key Question: How will the market react to this area?
Is it going to reverse or continue lower?
Is it ready for the next downmovement or not?

Moving on to the H4-Timeframe:


Here you can see another strong Downtrend.
The market makes a trending move and a retracement move alternately.
At the moment it is in a trending move, so we can prepare for the retracement move.

What you can't see in this chart, is that we analysed the amount of the retracement from the trending move.
Here are the Results:
  • 50%
  • 61,8%
  • 61,8%
  • 78,6%

As you can see, the market is retracing more and more in comparison to the Trending Moves.
That's why our TP is at the "safe" 61.8% Fib' Retracement Mark.

Last but not least, the Entry H1 Timeframe:


What you can see here is only the tight Trendline, which could serve as our Entry.
The SL is below the Low and the TP at the 61.8% Fib' Retracement.


We recommend to trade counter Trend Trading only if you're not a beginner anymore!


Thanks and successful Trading :)!

Comment: Here is the RED BOX for you all :) :