Still in Buying the Dip mode for us looking for weak hands to give us their trades at a discount.
CHF has remained weak for many weeks now, inevitably the tide will turn at one point and we may miss the turn and even still hold our long bias when it does.
By trend following when our CURRENCY HEAT MAP tells us to we avoid picking the tops and bottoms of any trend,...
By focusing on the very strongest vs weakest of the MAJOR CURRENCIES, we are able to hold onto our WINNING TRADES for much LONGER without the fear of giving back open profits to the markets.
2021 So far, has been VERY GOOD to us keeping us on ONE SIDE of the market and only buying the BRITISH POUND GBP against the weakest of the other Majors.
Less usually means...
This has retraced back to resistance as expected, now there is the opportunity to short. If we see this rebound from this resistance and MACD remain below 0 and EMA's do not cross higher then this will drop. Target is 9.02671 where this should find support and bounce higher.
Already short on this but it has retraced back to resistance and is now rejecting from here. More shorts can be entered with SL above the high of support and I have a target of 9.07100. There are a couple of support levels before the target which are shown on the chart, these can be used for short term profit taking and used with a swing trading strategy for lower risk.
Good chance to short this from current price. It looks to have broken support and is retesting it, expect to drop from this retest. MACD and EMA's have this still bearish after initial rejection of the breakout. Target is next support at 1.4233
Looking for a short on this. The support was broken and it is now retesting as resistance. Waiting for this to reject then can enter the short. Target is 9.32335, there may be some support at 9.40720 which could cause the price to rebound slightly but hopefully it will pass through this. There is also a longer term target at 9.07100.
This is at a support level and I am expecting it to rise slightly from here before breaking through. It is too risky to enter before it breaks the support but if it does then a short can be entered on a retest of this level which would then be acting as resistance. Target would be 1.4232
First of all I would like to wish to every one who reads this a good year with lots of success and happiness. Now let's get in our topic.
CADCHF has not really recovered from the covid market crash, which indicates a slow but steady - yet predictable - direction. We are watching price moving in an ascending channel since the start of August. So for the time...
This is monthly chart , line charts give the best price action .
we have inverted H&S on the monthly chart and only 6 trading days to go for completion of the monthly candle.
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This is the only forex pair I trade.
Before the pandemic this pair was in a short run for a long term! Then the pandemic came and it went up for peaks. Makes sense, people see security in the Swiss dollar.
The world is now familiar with the pandemic, business are evolving, countries are recovering etc. The panic of covid is not going to last long and in...
+ Daily Trendline broken
+ Good Bullish Momentum
+ Fundamental strong CAD
+ Waiting for a Break and Retest Scenario
CAD Interest Rate Decision, not the best for SwingTrading, if we hold rates we can see really good momentum to the Upside!
Risk to Reward: 1:2,25
With ECB committed to ease in September, pressure is increasing on SNB to further cut rates towards minus 1 percent from current minus 0.75%. CHF has appreciated considerably as a safe haven move recently making higher possibility of intervention by SNB. chart structure has started to favor fall in Swiss franc in coming weeks. Further looking at SMI 20 strong...