chf/usd has been in this range for sometime with the occasional breakout to the upside however price decided to go back into that range in the form of a descending channel. Waiting for a retest of the resistance zone to confirm price is still following inside that descending channel.
on the chfusd price seems to have consolidated in this triangle pattern, waiting for price to break out so I know what to do however, price is still technically bearish because its a retracement from previous HH so you gotta watch out for this one and see how it fits your trading style.
En temporalidad de un día se observa la primer fase correspondiente a la acumulación, luego una segunda fase que es el canal alcista y la tercera fase siendo la distribución donde la fuerza compradora se comienza a debilitar y comprimir el precio para dar el paso al canal bajista y comenzar un nuevo ciclo.
Dentro de los canales también se puede observar que en...
So CHF is in a range for the past 3 years, but current fear in the world has boosted its valuation. A historical look show that every peak above the channel top with RSI above 70 on the daily chart has been in anticipation of a turn down. We're gonna bet on history repeating itself.
- Peak over strong channel top
- RSI and Stoch overbought (which has been a good...
The price has rebounded just below the first 0.9964 support on the 1W chart and according to the monthly RSI = 47.462, STOCH= 45.454 and Highs/Lows = 0, should rise towards the first Resistance at 1.0591. Our target is 1.0469 where the SL will be moved in profit in order to chase after the Resistance extensions safely.
Currently the market is accumulating longs while waiting for ECB to hike. SNB should follow up with a hike and this thing should shoot up.
Caution: Your broker might increase the margin requirements.
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