Our preference: position bought above 1.0865 with targets at 1.0900 & 1.0910 in extension. Alternative scenario: in break of 1,0865, a continuation of the decrease will be envisageable with 1,0850 & 1,0835 in line of sight. Comment: The RSI militates for a rebound.
Hey Guys, Simple idea, wait for breakout and start trading the move! - Hola Chicos, Idea simple, esperad al breakout y operad el nuevo mivimiento! Carlos
We can see the EURCHF is nearing a major support level and if we look at the 1W + 1M charts, we can see sellers are slowly diminishing and momentum is changing in favour of buyers, however we may see this manage a leg lower before price can move up. A conservative entry would be to wait for a break of the downtrend line, whilst staying above the uptrend line and...
I believe that successful trading strategies rely heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. Consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be a continuation or reversal. It requires...
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Hi Everyone, Here is my idea for EUR/CHF Bullish rectangle. Now you can Buy EUR/CHF -Target @ 1.08696
EU just came out with new economic figures. Expected Consumer Price Index stats were delivered without shaking this short setup, I have been looking at this week. CHF came out with unchanged interest rate, also following consensus. I've a floating SL around the 200ema and expect it to hit around 1.06400, which is a previous tested psychological level.
We see the price fall by the end of the week to 1.0540 - The setup will invalidate if the price breaks 1.0860 level.
Price is currently forming a descending triangle pattern. Although this is a bearish price action pattern, we need to see a break of the zone before confirming. Therefore, it is safe to say there are 2 possible outcomes to price this week. Look for a break and retest of either the TL before going long to the next resistance or a break and retest of the weekly...