Price on USD/CHF has produced a high test bar ricocheting off the round 0.9500 level. RSI and Stochastic divergence support this short set up. entry - below today's high test close stop loss - above today's high test close target - aiming for 0.9290, previous low, close to 50 ema (ignore support line on chart at 0.9250)
I don't regularly use Elliot wave theory in my ideas so I'm not 100% on this one, any advice is very welcome. Things to note are that USDJPY is in a consolidation pattern on the daily. It tried to breakout a few days ago but failed. Going up for another test but is running into a lot of resistance. Put in a long wick right along previous structure support,...
Price just broke out of a range, in addition to breaking a Fib retracement drawn from last July. I am looking for a pull back before adding to my short position (short began at 1.3895 4/11/14)
Russia is a market that I like as a standalone. I have already one phase in as I stated nearly a month ago. Here is why... "Russia is currently trading at .6 times book value. The reason for this is quite clear, if the US and Europe pose sanctions on Russia, the companies within will be harmed economically. The question for investors is by how much will sanction...
As I said in my last analysis, there are some bullish signals here. For the moment I am glad I waited and didn't short at breakout bellow 1.3600. I thought it would be a false breakout, and for the moment I avoided a loss. I really hope it will move higher....Did you go short?