USDCNH testing Highs?

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

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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.

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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
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