Inspired by an indicator I found on stevehopwoodforex.com and the endless possibilities of tradingview.com I came up with this currency strength visualisation concept.
*Please hit the zoom-out button once*
(or more if you're feeling wild)
This may look like a mess, but the last few "bars" on the chart are holding some useful information!
I'm sure I'm not the...
Looks like USDCHF made a a false breakout 2 weeks ago. Broke up on the upside of that bullish wedge and broke down again. Past half year i assumed this was a big bearish wedge, while knowing there was a chance it might be an ascending triangle. Because of that big rally a month ago, it looked like the triangle won. Now it seems that one failed as well, which...
4H CHART EXPLANATION:
On the 4H timeframe, price melted down after facing the Resistance Zone. The last few days it was moving sideways on the Support Zone, forming a Triangle Pattern that is trying to resolve on the actual candlestick. If it consolidates below, price has potential to reach the Support Zone at 0.95600-0.95800.
The US Dollar has been trading in a one-month ascending trendline against the Swiss Franc. The currency pair reversed from the lower border of the trendline at 0.9698 on June 25.
Most likely, the exchange rate will continue its upward swing within this week's trading sessions. The potential target for bullish traders would be near the upper border of the channel...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.9825.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=0.9805.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
Now there are two facts : 1- Bearish Bat pattern completed .
2- Trend is Neutral .
now we can go short on these two bases but it must have to complete the requirements of breaking the line.
Always wait for the price action.
* This is not an investment advice just for education,
* Our work is to give you the...
This is an update to my previous idea:
Here price has reversed from the .5 retracement and continues downward targeting the 1.272 extension of the recent bearish impulse. This level has strong confluence with structure looking left.
IM LOOKING FOR A GOOD CANDLE PATRON BETWEEN 0.99520 AND 0.99130 IN THE CIRCLE ZONE IS A GOOD TECHNICAL CONFLUENCE ZONE
ESTOY BUSCANDO ALGUN PATRON DE VELAS ENTRE LOS PRECIOS DE 0.99520 Y 0.99130 EN LA ZONA MARCADA CON UN CIRCULO, ES UNA BUENA ZONA DE CONFLUENCIA CON LINEAS DE TENDENCIAS, FIBOS, CANALES Y ONDAS DE ELLIOT Y SUS CORRECCIONES.
- NO ENTRAR SIN...