We could not manage even to test the rising trendline, i.e. a new rise is going ahead. The former support has been re-conquered.
The pair bounced back from a critical support line, sending it higher towards an uptrend resistance line. The United States and China were in another brawl following a tweet by US President Donald Trump. The COVID-19 became a platform for the two largest economies to continue their economic fight following the trade war. On his post on the social media platform,...
A bearish bat pattern is spotted in four hour chart, it provides a potential reversal level from 7.02140 to 7.00360. Because the market just create a new lower point, now it is in a callback situation, so this selling opportunity is a follow-trend trade. I will wait for the market to give me a confirmation signal, then decide should I short this market. Please...
Another one for shorting. Any peak in red area is worth shorting, at least to the TP1. It may surprise and jump up to 6.99 level, so not rushing in trades would be wise. I'm thinking to trade only from Tuesday London open to Thursday NY close, since Mondays and Fridays can be tricky (but are good for scalping). Daily view: Disclaimer: this idea is solely for my...
Fundamentals: Demand for CNH may further decrease due to the outbreak. Easing measures may be undertaken by PBOC to further depress CNH. Technicals: D1 bullish gartley, support being met
right now we are getting buys on the 7 hour time frame as the stochrsi momentum turn bullish
Breakout support look for short. Channel just breakout trend could be continue down.
Overall a bearish trend, We have a break of structure and selling off the retest to our previous low.
The USD weakenss can be further echoed against the China RMB, we believe that the dollar against Yuan will be rangebound with the strength tilted to the bearish side.
The market breaks above the bearish channel in the daily chart. A bullish bat pattern is almost complete in four hour chart, it provides a potential reversal level from 6.97140 to 6.96480. I will wait for the market gives me a confirmation signal which is near the potential reversal level, then I will decide should I long this market. Please follow me if you...
MULTI TIME-FRAME ANALYSIS DONE. TRADE SHOULD ONLY BE TAKEN IF IT FITS YOUR IDEA OR PLAN. TRADE SMART.
USD/CNH Trading Plan BUY - Riks Reward 1:4 - Longterm
Looking for one of the possible ABCDE moves here. On larger time frames I marked area where it would reach, if will turn south (see below). So let's go chasing some other pair and come back to this one later and see what will be plotted. Daily: 4h: Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)