I mentioned exact entries on buys on this pair more than once. It is only coming off the 1.236 extension, however it did a small 5 wave with an ending diagonal. There is divergence and it has been over extending for a bit. My point is this.... There is potential for a deep retrace (big sell). There is also potential for a wave 4 correction (23-38% last wave) and...
timeframe : 1H
entry price : 0.96750
Take profit 1 : 0.97125
Take profit 2 : 0.97500
Stop loss : 0.96350 (suggest to use trailing stop)
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Don't forget Asset management / and please trade at your own risk and this chart is as my opinion about USD/CHF
THANK YOU
REGARDS
Abolfazl Abedi
TP = 286.634 as CHFHUF extended the gains on the 1D Channel Up (RSI = 58.041, MACD = 1.231, B/BP 1.4290) to a 292.000 Higher High. After continuous Higher Lows (Highs/Lows = 0.0000), we expect a narrower Rising Wedge to approach a peak, so we are long again, TP = 295.175.
=> As widely expected since earlier in the week CHF catching a bid from the safe have flows.
=> Draghi et al confirming today that "risk-off" is around the corner and those sharp enough have been positioning already... here we are almost ready to start clearing our positions.
=> For those still tracking the cross the double top will now cap any meaningful upside...
EURCHF has just made a Lower High on the 1D Channel Down (RSI = 42.183, MACD = -0.005, Highs/Lows = 0) and is now aiming for a new Lower Low near 1.10800. However due to the previous Lower Low supporting line, we are more cautious on this short aiming at a TP = 1.11417.
=> Here we are actively adding to our CHF exposure as we are expecting risk to enter back into the picture any day now...
=> The move towards the 50% retracement has yet to complete and we see this bearish momentum to threaten a break below.
=> The upside is capped with iron resistance at 0.985x
=> Here we recommend shorts with targets at 0.9627x , entries at...
GC GBP/CHF is very overbought as you can see in my MACZ-Vwap, DeMarker, CCI, momo Stoch, momo squeeze and RSI-EMA etc. it's for the pair going back to it's original bands and stop stretching itself.
FX:GBPCHF
USD/CHF labeled in a bearish ABC correction, where wave A unfolded as a Leading Diagonal and wave B unfolded as a Double Three.
Wave C presents an extension and expecting a bearish continuation.
USDCHF had broken below the triangle pattern. Some levels to look out for as it rallies back towards the supply zone for short opportunity.
Happy Trading, folks!
Cheers!
Second target reached earlier today which I wrote about here . Currently the pair has found support right around 0.96750. Retail trade sentiment is biased long while market momentum continues to decline. Further downside seems ahead, although the pair might stabilize within the present price area.
Target III might be a little bit trickier to hit as we'll be in...
Even though my entry from the trade I posted here was premature it worked out nicely and my initial target was reached. New Target TWO has been set @0.9666 (how deliciously wicked!), which nicely coincides with the 1.618 Fib Extension level off of the 07.13 high. I've moved my stop to trail above the 40 period EMA, which should be enough wiggle room within this...
I will post the daily in a moment to show you the 5 wave measurements it is currently on. Notice the divergence, the .618 level and the 1.236 extension of potential WXY pattern. Do not trade this chart. Please refer to the daily chart I post in a moment for potential setup.
TP = 1.2866 hit as the previous confirmation point (1.301050) got crossed activating the short. GBPCHF has now completed a Lower Low on the 1D Channel Down (RSI = 30.531) and should either consolidate or rise strongly for a new Lower High. We go long with TP = 1.28100, preparing to reverse to shorting there as the dominant trend remains bearish.
Chf/Jpy has intersecting pitchforks lining up exactly with equal length and the .618 retrace. Now.... Daily TDI looks like it may have upside, my buy from bottom still running in case of the leading diagonal scenario (until I see a reversal pattern). But the 1.236 extension level would probably be a good place to catch a wick off of should price break up, and the...
TP = 0.99173 hit as an aggressive 1D sequence (RSI = 36.832) has broken the previous Triangle pattern to the downside (Highs/Lows = -0.0049, B/BP = -0.0089). 1D is now testing the first support at 0.98574 (last being at 0.97933). We are going long now on USDCHF with TP = 0.99727 (near the first 1D Resistance).
USDCHF is seen at a criticial support area, if price bounces off this level, we can long the pair and target .9930. The pair is more likely to respect the structure.
The ideal entry is .9970-80, with stop loss at 99.50. You can also enter now at current market price, but divide your usual lot size into parts so you can set a pending order at the levels I...
