EURCHF is approaching strong support at 1.1521 (Elliott wave structure, Fibonacci extension) and what could happen is that it takes out the stop losses below our wave 3 with a wave 5 movement. This would then lead to a potential bounce up to 1.1639 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (55,5,3) is seeing major support...
Monthly: Hard to take too much away from the longer timeframe as most brokers have different low trades from the January 2015 spike. What we can note is the fact we will post a bearish Outside Month. Weekly: Bearish divergence can be seen on the weekly chart. Chart makes a higher high while the oscillator (RSI) makes a lower high, often seen before the change...
Hey Traders, As simple as this, looking for a sell set up after a breakout. - Hey Traders, Tan simple como esto, buscando oportunidades de venta despues de la ruptura. Carlos
EURCHF is forming a really nice bearish crab formation with first major resistance at 1.1818 (Fibonacci extension, bearish crab harmonic formation, bearish price action) and a strong reaction could occur at this level to drive price down towards 1.1783 support (Fibonacci retracement, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance...
nice top and kangaroo tail formed look for pull back/support in price range box
Hi traders, I love this chart! Bulls are losing control, multiple rejections to the top and there are so many Bollinger Band spikes which is one of my favorite criteria to enter. My first position has been added already and is at break-even now while I am looking to add a new position after the break of the support area. The support area is not the cleanest,...
All Trade Parameters shown on the chart. Short setup in 4h Supply. Be aware: Counter Trend Trade. However we see a strong reversal pattern on the daily chart - Engulfing candle. Could potentially roll over to the downside. Plenty of space below. Confirmation entry is ideal and we only take the short if we see price coming back up before it hits the 1.152
CHART TIMEFRAME: H4 TREND ON THE CHART TIMEFRAME: BEARISH FACTS AND PATTERNS: EURCHF is approaching support zone. 1.16000 – 1.15800 is the strong support area. A bullish shark pattern completion at 1.15820. POSSIBLE “PREDICTED” PRICE ACTION: Move back from support and a retracement towards 1.16400 and 1.16700 Fibonacci Levels. ACCURACY: 82% EURCHF TRADE IDEA:...
price seems rejected at the structure. Also pressure at 1.618 fibs level and complete deep crab. all those will be the reason to short.
A potential bearish crab pattern is about to complete. R:R at 1.6. Aim for 38.2% retracement. Good luck.
Our preference: short position below 1.1580 with targets at 1.1520 & 1.1505 in extension. Alternative scenario: in excess of 1.1580, aim for a continuation of the rise with 1.1600 & 1.1625 in the line of fire. Commentary: as long as 1.1580 is not exceeded the risk of a sink of 1.1520 is important.
The trigger for a short entry would be a daily close (5 pm EST) below channel support. However, there is a trend line that extends from the October low that was just breached on a 4-hour closing basis. From here any retest of the 1.1620/30 area as new resistance will likely encounter an influx of selling pressure. Key support comes in at the channel bottom near...