The 1.03000 level holds the key for this pair to reverse or continue trending northwards. As the price will likely approach the crucial 1.03000 level which has been respected on many on occasions, it is favorable for many traders to take advantage of this situation and possibly reap huge profits target with minimum stop loss. However keep in mind the certain...
- From the prior swing low on January 10th to the current swing (and multiyear) high is a 99-day move. This is exactly in line with Gann’s 90-day cycle of the inner year – a powerful reversal cycle.
- There is a square of price and time at 1.0156 on the date of April 25th. Because we are more than halfway through the current time pivots, the April...
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CHFJPY FOREX BREAKDOWN 08 MAY 2019
Found a support right now, we need a market turn!
Bearish market for a couple of days turning bullish now.
Strong Support can hold right now, looking for upside momentum!
ENTRY @ 108.200
SL @ 107.610
TP @ 111.200
(Use normal Risk!)
dollar swiss is standing on a significant level of support after a selloff from 1.012 level.
finally, breaking multiple support levels, the market reached oversold condition,
and we see a formation of a reversal pattern on a lower timeframe.
I consider the ascending triangle in a bearish trend to be very...
On the weekly chart, I see price heading towards resistance zone and it's retested it three times creating this triple top. Diving into the 4hr/1hr chart, I also see price creating a rising wedge which is confirmation with the triple top that was created.
Here we have a very nice opportunity to short GBPCHF for a few reasons:
1. After making a retracement to the .5 Fibonacci level, price has consolidated into an ascending wedge.
2. Furthermore, the structure of the larger, blue descending wedge is also providing a second level of resistance.
3. Finally, RSI is displaying clear divergence in the local uptrend.
Over the last several weeks, we have been watching the CHF/JPY pair as we continue to bounce around in a symmetrical triangle. This is going to be a very interesting pair to watch as both are considered to be “safety currencies”, and as a result you can watch this pair to decide which currency you should either buy or sell based upon risk appetite in other...
Although we are seeing a long-term rising wedge form, the fruition of a downturn at the end of the wedge is still some months into the future. In all liklihood, we still see a bit of an upward movement given how overcrowded the short trade is according to the bull bear oscillator. A trading week is five days which is why I used 5 day RSI to highlight how poorly...