Hello Traders. This is Fdz Bringing to your attention my analysis on the Chf/Zar pair.
I spy with my eyes a completed Inverse Head & shoulders turned into a Cup & handle. both patterns are bullish.
retest/handle seems complete. might rally when reports are released. Im placing my stop under the shoulders.
Tp in place. Happy trading.
USDSEK has been bullish for some time at its all time high and it looks like the bears will eventually come through
1) First thing I noticed is a clear head and shoulders
2) My trendline was broken by a bearish candle which shows the supply for this pair
3) Looking for retracement and continuation to the downside. Fib level lines up perfectly.. Looking for price...
This pair looks a really beautiful setup, all time frames tell one thing: "SELL" I will be waiting for a break and retest of 1.73 zone on 1hr time frame before entering short. This pair has way more downside potential then my target.
LITTLE PREDICTION ON THIS PAIR.
FIRST IM WILLING TO SEE HOW PRICE REACTS AT THE LIQUIDITY POOL.
BUT I BELIEVE IF WE MANAGE TO CLOSE OUR WEEKLY CANDLE AROUND THE BLUE ZONE WE COULD SEE SOME MORE UPSIDE POTTENTIAL,
AND WE COULD BE LOOKING AT A NICE BULLISH SETUP FOR THE NEXT WEEK.
IF YOU SHORT THIS PAIR AS I AM GIVING FIRST A SELL SETUP.
USE GOOD RISK...
1- breakout was made
2- retest was made
3- price respecting our trendline
So i believe there is much more upside movement possible.
I will hold my take profit areas as the green lines, but i believe we will go up more.
BUt i will be watching price once on this areas to monitor my trade.
-WEEKLY TIMEFRAME HAMMER CLOSURE
-HAMMER AFTER 8 DAY BEARISH TREND\
-HELD AT DAILY PURPLE RESISTANCE AT 0.65150
-DAILY & H4 BREAK OUT OF BEARISH TREND
-NO LONGER SITTING BELOW MOVING AVERAGES ON H4 DAILT TIMEFRAMES
-FIB RETRACEMENTS WORK AS TARGET ZONES
-USDCZK looking bullish after showing signs of reversal. Sellers pushed price down into support but buyers brought it back up above support before the daily candle close.
-The price action resulted in a daily pinbar setup AT SUPPORT which is a bullish sign.
-On the 1H time frame, price just broke a bearish trendline or the neckline of a head and...
Today we are revisiting the USDMXN Daily chart, in a previous COTD back in February we looked at the Daily price action and what was a potential shorter-term set up (take a look here.
The Shorter-term set-up didn't pan out on the back of a weaker dollar and more exotic shift on the back of this. But as the Dollar films a little bit we are going to revisit as the...
I hope it was a great sunny weekend for everyone of you guys. Here in Germany it was beautiful, like this setup we are looking at. Found it during my weekend trading routine. USDMXN looks super clean from now as there was bullish momentum during the last week. Forming a peak high formation now with a divergence on the RSI could indicate another...
This little setup caught my eye.
I personally wont trade this pair, as i dont trade exotics...
Thought i would just share if anyone else out there had a bearish view on this pair.
This isnt intended as a signal, just an idea.
I see a potential Head & Shoulders patter forming on the USD/MXN.
All the details are listed on the markup.
Trade at your own risk! I am not qualified to give financial advice!
Happy trading :)