Price made a bullish run and met resistance before the Swiss Franc pulled back bearish (50% fib level) to the point of support where price is currently trading. From this level, price has the potential to move Bullish to the price level i have marked with the green horizontal line which is 100% of the 50% fib retracement.
Entry - Grey line
Stop loss - Red line...
To me it looks like CHF want to go and fill in that big gap just like the EUR already did.
Reasons for it to back up this idea:
- Well Gaps like to be filled most of the time
- HTF Bearish MS now testing the 4h -OB
- You say they ran stops above that 4h ob tight before we dumped so that is bearish
- Stops ran on the 1h double top (you would see it better on the...
looking at the structure of the swiss, selling might not be the best option right now. with price very low into the squeeze and price in weekly demand (tested) might see a stronger swiss over the next bit on the higher time frames. its important to know who is taking the opposite side your your trade.
Swiss Franc currently in a clear down trend from daily/weekly perspective... 1.0500 proved to be key price level where institutional buyers/sellers were strong. Last time the level was tested, the price drops down significantly and I'm expecting another test of this price level. If price would reach this area again, it will probably be also 2nd touch of daily...
On the technical perspective, I think this will confirm a rebound for USDCHF as the index shows in here. Check my USDCHF chart for more details
This may give a strong rebound for USDCHF within the weeks to come.
I like this set-up. Factors influencing me are:
Bearish Bat Pattern (Purple)
Bearish Butterfly Pattern (Blue)
Negative Divergence in RSI (RSI making higher high while price making lower highs (dark blue lines))
Trendline from the recent highs
I have set a a limit order at 1.0026 for the completion of the bat pattern and will keep it as long as...
The previous analysis on this pair failed and led to a massive paradigm shift in the markets, which struck me with clarity.
I'll look for long positions in this pair on any chance that I get. The quarterly chart has an uptrend signal that will confirm by year end's close, as long as it's above 0.9324.
There's resistance above, let's see how price reacts to...
I hope everyone is well and following their trading plans. A site member brought a forex idea up with me today and I thought I would give my answer to the broader community's attention through a post here on TradingView. This is a very typical study I would do on any asset for any time frame for any type of investor/trader. Ideally, students of my level...
The AUDCHF cross has caught my eye because prices started rebounding off their 2011 lows after the SNB event in January. The fundamentals remain bearish given the Swiss franc's strength and the RBA's monetary policy. The technicals suggest however that this pair could hold above 0.63 CHF with a long-term channel support around this level. This is definitely...
The Swiss franc is lower on the day amid speculation that the Swiss National Bank (SNB) will intervene in the foreign exchange market in order to actively weaken the currency.
As you can see by the comparison, gold tracks the Swissy rather closely. Interestingly enough, gold's all-time high of $1,923 ended at about the same time the SNB decided to peg their...
Now I'm looking 3 weeks up-swing
It looks blue modified schiff pichfork working
So concentrating blue median and 38% Fibo(1.1617)
I'll long late july(form 2014 - 07 - 18~~~)
Swiss WC team did already well,so
thou Argentina WC team Win
I'll reamin long