There is deep bearish gartley with ABCD pattern completion around same area. As usual keep your stops above X for this even if you are entering with ABCD as entry reason. Targets can vary choose which is best for you. In the XA leg, there is inner price swings, some will disapprove its not pattern. but it all comes to what your plan says and whether it worked...
I am watching this zone to go long on EURCHF.
EURCHF Ascending Broadening Wedge, Fanning of Moving Averages Ascending Broading Wedge is low on probabilities of bullish reversal, but it does happen and has historically with this pair. However, the price action typically moves down further as a false sell off before a reversal. Bulkowski The confluence of the fanning of the moving averages is also historical...
It is very likely that we are going to see EURCHF going down for a second leg after correction. I will be looking to join this daily bearish cycle on the H4 chart. If we get a correction to at least 1.09 or even higher, I will be looking for bearish divergence to form and complete which will trigger my sell trade.
I am not going to enter this trade in a hurry. In fact I may even wait for a week for this pair to settle down. The 2nd leg of the pattern is quite drastic so I will wait for the market to tell me if it is ready to reverse. However this is a very good level to go long.
Long EURCHF Target 1: 1.09782 (High probability) Target 2: 1.10155 (High probability) Target 3: 1.10729 ( low probability)
The CHF hit a seven-week high against the EUR today, as investors flocked towards safe havens on worries that Britain will vote to leave the European Union at a referendum in two weeks' time. Though odds offered by betting websites and bookmakers point towards a vote for Britain to remain in the EU, polls have not offered a clear picture of what the outcome of the...
EURCHF reaching a major yearly critical level after its steady recovery from last years crash. Next weeks candlestick will be crucial to see if we continue the bullish momentum although resistance being a far away or If we see a breakout to the downside. I'll be watching price closely on this pair hoping it breaks out of the range its currently in....
An exercise of slope analysis on EUR/CHF, one of the pairs believed to be most suited for range trading (but beware of the Bank of Switzerland interventions!). A year long wide uptrending channel has formed which has certainly given a few entry opportunities. However, what I find interesting is the tendency that price had to form relatively tidy descending...
Good morning traders, 1.1015 area was a former resistance turned support. A series of higher highs suggest bullish continuation to retest 1.12 area. SL below 1.105 on a daily close Also it broke correction phase of the past days and if price remains weekly pivot, more bulish action is possible. You can subscribe to my mailing list for FX Alerts :...