There could be developping a longing opportunity on USDCZK back to 24.5. After an impuls we just created a retracement. After a retracement we can typically expect the market to continue its course and create a new impuls. We do need to wait untill all the rules of our strategy are checked, because this market could easily continue down. When we get confirmation...
Although it's a big wick with a bearish candle, i wouldn't be surprised if it got filled
Bullish M + inv h&s
Bullish M + double bottom
The daily adjusted zone hasn't been reached yet
The USD has lived up to its classification as a safe-haven currency since the beginning of Russia’s invasion of Ukraine. Other safe-haven currencies, such as the Swiss franc and the Japanese yen, have failed in this respect. Both have lost strength over the past month and a half. The Swiss franc index has fallen 1.2% over this time, while the Japanese yen has...
The market typically tests the marked structure candle. When we see such a candle it's only about waiting for the right conditions to take the trade and ride along the way back to this candle. In this case we can expect the market to test the 22.02 zone again.
USDCZK is currently presenting a type 2 bullish reciprocal ABCD pattern with divergence forming on the RSI in the oversold area. First target is the previous high formed by price and if price continues then second target for profits is the completion of the move at the 1.27 Fibonacci extension. 1:3 risk to reward trade for swing traders although...