The buy was off that 200 at break and test of flag. Considering the larger pattern, this does have the potential to break the high of the larger structure before any huge drop. So keep that in mind. And watch out for a smaller correction here possible.
USDCNH has terminated an upward impulse. It has started to retrace. SL: 6.92 Entry: Market ~6.82956 T1: 6.7573 T2: 6.654 T3: 6.577
USDCNH reached historical max values and start the descendant channel approaching. Traget price @6.63.
Stop loss, entry price and targets are mentioned on graph.
Correction became complex and transformed into double three...at least. 50-61.8% Fib and the upside of the channel are targeted.
On the daily chart of the instrument, according to the Elliott waves, the price is moving in a corrective ABC zigzag which should continue the bearish correction. My entry sell level is the latest bearish fractal.
Regardless of winter USD rate-hike the Yuan will continue to show relative strength.
This morning we saw another one sharp reversal of Yuan to growth. In the previous month, the People's Bank of China actively engaged in interventions in the foreign exchange market and spent on it more $34 bln, protecting national currency from disordrly decline, although it did not interfere USDCNH’s from crawling up. In November, we have already seen a couple...
The pattern is a bit unclear, but because the RR is so great i am taking the risk here. Starting small and increasing on the break of the yellow zone. Think we might make a lower high on the daily, so it could potentially drop a lot coming weeks. Making the RR enormous, which makes it worth the risk for me. I am using the stop loss, but in case we move only...
This pairing has been unable to break above the $7 dollar resistance - rejected in Dec 16' and again in Oct 18'. I will be looking at a short position after technical and fundamental factors have lined up in favour of this direction. The US Mid-term elections have softened the dollar rally that began just before summer 2018. However, I will not be opening any...
The 7dollar handle hold, price now turning lower in an impulsive fashion. The first wave finished and price is now making wave 2, so, wait for it to end before entering any short positions. Trade Setup : * Entry : Pending order @ 6.931 (0.618 Fib Retracement) * Stop : last high (or 7.000 for a more conservative one) * Target : 6.7 to 6.521
Triangle breakout and retest. The distance calculation will bring USDCNH to 7.5+, well above the 2015 high. Don't be surprised for global selloff and panic.
Hi All, Sharing another one of my trade. Im looking to short USDCNH. It's at an all-time high which is always a sweet moment to short. It may go up slightly, but will surely have a nice dip. Again, to avoid bad karma, this is not financial advice, just sharing my trade. Please trade smartly. Like and comment if you agree. All the best and trust the charts...
Price is coming to key sell zone 6,9871, Last time the price was near that level year ago. There is a big probability that price will bounce down from 6,9871 because in 80% situations currency rate bounce from such levels. I will open a Sell if the price will make a fake broke 6,9871 and D1 close under it. Push like and Subscribe, if this post will get 50...
We all know that the Yuan does not float like western currencies and there is consistent manipulation on a daily basis in terms of the Yuan's strength. I believe a revaluation and true appreciation of the Yuan is due, with technical (RSI=70), geo-political (Trade Tariffs between China and Us will never end well, china has mad treasury bonds that they can drop on...