USDCNH LONG Flag patternHere are few points i am looking for this trade
1. Inverted head and shoulder pattern is formed
2. Price start to consolidate into the major resistant level (neckline)
3. Rising support in when price consolidating (buyer taking control )
4.Nice flag pattern for us to trade /weak pattern
5.We need to see a strong bull bar to entry this trade (momemtum bar)
6. Target (2 times flag pole )
USDCNH trade ideas
Trade recap: Making 3.4R from shorting the US-China DivergenceCapped this short at 3.4R using our strategy as we get significant DXY reversal heading into this week's US Retail Sales and Building Permits news. No trades for now as we patiently sit on our hands for the next signal (preferably non-USD for this week, at least).
USDCNH [60] Momentum HeadfakeJan 10th, 12:00PM PST
We've had a momentum move into a consolidation with diminishing volatility (aka triangle). This is setup is early in development but worth watching. First we want one more bounce off the horizontal trend line of the consolidation. Then we're looking for this to pullback to the 240 21EMA (to prevent Over Extension) and then a quick reverse back over the horizontal trend line of the triangle. This is the entry signal. From there the target is equal to the momentum move which led into the consolidation
Bears Have Won📏 USDCNH went below the channel's lower border, a solid indication of a potential continue of the downtrend.
🐻The consolidation may result in another bearish wave. Thus, we are looking for a Sell trade when the price breaks through the 6.880.
✅ Take Profit: 6, 866 and 6.850
🛑 Stop Loss:: 6.905
Usd Chinese yuan shortAs positive sentiment for the yuan is in place, it'll continue down but first it must pass the test for the top and latest resistance and once it bounces off that and goes further down the channel, its home free. This is provided they confirm and continue with catering to the public sentiment.
Usd Chinese yuanAll information priced in the price.
China has one main issue and that is how to deal with covid because it seems to repeat.
China has hopes as it can still bounce to the ceiling, but what ever policy is set; drives their economy.
Here's my prayers to the Chinese. Zero covid isn't working because people get sick, but they also get stronger.
Exercise and vaccines help. China should consider assistance from the US on how to get back to normal.