MicKi
Long

USDCNH testing Highs?

OANDA:USDCNH   USD/CNH
Hey there!

USDCNH is giving us a nice opportunity. Lets check it out:

- The pair has been doing a series of higher highs and higher lows so we expect the trend to continue

- We can see how the pair bounced from the support level yesterday forming a big bullish candle

- The pair is above all moving averages

- Trend Meter and Didi Index are bullish

- Smart money is still interested in this pair as we see in our first indicator

I expect the pair to retrace to the weak support level and continue higher from there. If that support is broken that will probably mean that the pair is entering a consolidation/reversal period and the trade will be invalidated. As you can see this trade is super interesting from a Risk to Reward ratio.

Just a couple things to be reminded of :

- I use other indicators to confirm my trades that I am not sharing in the graph as I have a maximum of 5 per graph so I take the most relevant ones
- You will see no Take Profit and no Stop Loss in my charts because I use an algorithm that does that for me

Did you like the idea?? Give us a thumbs up!!

Do you have a different view and analysis? Let us know in the comments. I love to be proven wrong. It is the only way to become better.

Remember that trading is only part of your life. If you want to learn what custom made set of indicators we use and how we trade spending less than 1 hour a day at the computer screen join us in Discord! Link is also at my profile

Discord : https://discord.gg/RqJJujB
Telegram : https://t.me/TradeSurfLive

Surf, Trade, Live!!

Comments

Very nice trade analysis, check my
+1 Reply
MicKi DaweFXHunter
@DaweFXHunter, Im gonna need some explanation of all those lines mate. It looks real elaborate but I have no idea what Im looking at
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out