Sell below 1.0137. Stop loss at 1.0168. Take profit at 1.0063. Reason for the trading strategy (technically): We prepare to turn bearish below 1.0137 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance) for a further push down to 1.0063 support (Fibonacci retracement, recent swing low support). Stochastic (34,5,3) is seeing...
Sell below 1.0090. Stop loss at 1.0118. Take profit at 1.0033. Reason for the trading strategy (technically): We remain bearish below 1.0090 resistance (Fibonacci retracement, horizontal pullback resistance) where we expect a reaction from for a drop to 1.0033 support (Fibonacci retracement, horizontal support). Stochastic (21) is seeing strong resistance at the...
Sell below 1.0090. Stop loss at 1.0118. Take profit at 1.0033. Reason for the trading strategy (technically): Price has reached our buying area, bounced perfectly and reached our profit target from Friday. We now turn bearish below 1.0090 resistance (Fibonacci retracement, horizontal pullback resistance) where we expect a reaction from for a drop to 1.0033...
LOOKING AT THE USDCHF D1 CHART, I'M MT BULLISH BIAS AS HIGHER HIGH & HIGHER LOW ON SIGHT. BESIDES, EMA 20 & 50 PLAY ROLE AS MY SUPPORT AS WELL. THUS, MY USDCHF LONG POSITION TRIGGERED ON 1.0030 WITH A STOP AROUND 0.9960 AND TARGETING 1.0230 REGION. HOWEVER, IF USDCHF COULD DROP LOWER THAN 0.9950 REGION WITH A STRONG SHAVED BAR, IT WOULD NEGATE MY MT BULLISH BIAS...
Buy above 1.0033. Stop loss at 1.0000. Take profit at 1.0090. Reason for the trading strategy (technicall y): Price is approaching major support at 1.0033 (Fibonacci retracement, Fibonacci extension, horizontal support) where we expect to see a bounce towards at least 1.0090 resistance (Fibonacci retracement, horizontal pullback resistance). RSI (34) is...
Nice ABCD projection and swing high resistance being tested. Hopefully we can see a drop from here. We keep our stop loss small as if it breaks 1.0125 stop loss then well, all is loss :P
Sell below 1.0030. Stop loss at 1.0071. Take profit at 0.9961. Reason for the trading strategy (technically): Price shot up and reached our profit target perfectly. We now prepare to turn bearish below 1.0030 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) for a push down to 0.9961 support (Fibonacci retracement, recent...
Buy above 0.9959. Stop loss at 0.9898. Take profit at 1.0030. Reason for the trading strategy (technically): We prepare to turn bullish above major support at 0.9959 (Fibonacci retracement, horizontal overlap support) for a push up to 1.0030 resistance (Fibonacci retracement, horizontal pullback resistance). RSI (34) is seeing strong support above the 23% level.
Sell below 1.0036. Stop loss at 1.0097. Take profit at 0.9935. Reason for the trading strategy (technically): We remain turn bearish below 1.0036 resistance (Fibonacci retracement, swing high resistance) for a push down to 0.9935 (Fibonacci retracement, swing low support). RSI (34) is seeing resistance below the 66% level and now displays bearish divergence vs...
Sell below 1.0036. Stop loss at 1.0097. Take profit at 0.9935. Reason for the trading strategy (technically): Price has reached our profit target from previously. We now turn bearish below 1.0036 resistance (Fibonacci retracement, swing high resistance) for a push down to 0.9935 (Fibonacci retracement, swing low support). RSI (34) is seeing resistance below the...
Buy above 0.9958. Stop loss at 0.9900. Take profit at 1.0044. Reason for the trading strategy (technically): Price has broken our long term descending resistance-turned-support line signalling a change in momentum to bullish. It has also made a very nice pullback and recently displayed a bounce above this descending support line. We turn bullish above 0.9958...
Sell below 0.9958. Stop loss at 1.0027. Take profit at 0.9857. Reason for the trading strategy (technically): Price is dropping nicely from yesterday. We remain bearish below 0.9958 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci projection, long term descending resistance, EURUSD negative correlation) for another push down to 0.9857...
Sell below 0.9958. Stop loss at 1.0027. Take profit at 0.9857. Reason for the trading strategy (technically): We remain bearish below 0.9958 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci projection) for another push down to 0.9857 support (Fibonacci projection, recent swing low support). Stochastic (21,5,3) has reacted off our 92%...
0.985 - important strong support level Bearish scenario: daily close below 0.985 will open the way to 0.97 (200 EMA on Weekly time frame, long term uptrend line). Bullish: reversal around 0.985-0.99 and close above 0.995 - profit targets at 1.004, 1.0155 and 1.0345 Situation similar and correlated to DXY.
USD/CHF ( DAILY ) RECOMMENDATION: SELL SUMMARY: The secondary trend of USD/CHF is bearish on charts and price is trading below the trend line in its daily chart. In daily chart the price is sustaining above 200 day SMA and taking resistance of 50 day SMA indicating downtrend of the pair. It is having an important resistance at the level of 1.0005 and support...
The USDCHF pair has been doing lots of harmonics recently. After the most recent down leg, a retracement should be in order. The entry signal is a completed bullish Gartley pattern on the daily chart, in confluence with a 1.27 retracement of a nestled bat pattern, and a 61.8 retracement of an imperfect Crab before that. It is reinforced by the inverted hammer...