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.
WELL WELL WELL.
This surely took a while however if you were able to hold your short for that long hats off to ya!
This was a really good move!
I think that we could possibly go lower, if this happens I'll provide updates!
Congrats, if you made money on this trade!
On CHF/USD H1 we have an Uptrend Line giving support to the prices, the same one realized one bullish wave with support in 50 % of Fibonacci, after that, we traced one expansion with a target in 100% of this wave.
ENTRY PRICE: 1.0554
So you've essentially been holding this trade for about just over a month.
Don't leave a winning trade to jump into something that appears lucrative.
Which in actuality might not be a successful trade.
We're trying to bank over 600 pips on this guys, we should be near the 1.0200 Region in the next 2 weeks or so.
Don't lose faith, and just remember, you're ...