Traders,
As the $USD continues to benefit from recent fundamental cues in Swiss referendum against propping up its central bank gold reserve, the pair has defined an advanced market geometry in Bill Wolfe's Wolfe Waves pattern:
WOLFE WAVES POINTS:
This pattern works remarkably well with discreet projection of its 2-4 Line off of Point-3 to trace the course...
USDCHF looks poised to breakout either to the downside or upside, the trend overall is bullish, but price has failed to reclaim resistance turned support turned resistance now. Breakout is potentially more likely to the downside.
Following up on an idea that I posted last week. The USDCHF is now at a point where traders who are aggressive with their risk management can look to roll and trails tops with structure (on the 4hr TF)
One of the most important lessons that I've learned over the years from my personal trading and from my time as a money manger, is that how you manage a trade once...
With not a lot going on in the markets thus far this week I started venturing outside of my usual trading portfolio to fins some ideas I could share with my Syndicate clients. This was one that really popped out to me.
In light blue is a bearish bat pattern with some extra Fibonacci confluence within my killzone. More importantly is the large bearish candle that...
0.87 got retestes twice and a reversal happened there. In consideration of current uptrend channel and the previous downtrend before that reversal then there is minimum the potential for 0,91.
Confirm of this idea is after break of 0,90 zone as psychological Level.
Stock and RSI are indicating that USDCHF is overbought and needs correction. Also the price is at the top of the down trend chanel. It could go a bit higher but will eventually retrace to do so in my opinion.
Strong bullish momentum, look for a pullback to go long or go long with the break. EUR is weak at the moment and expectations of a rate cut haven't been fully priced in. Will re-assess closer to June before ECB decision
