* PA approaching significant SR from May-June 2019, and 1W trendline
* Probable LL
* Established RSI and PA trendlines.
=> Looking for break in RSI and PA trendlines at support levels. Two profit targets shown
* Tweezer top reversal covering both a recent SR level and the 78 EMA. Break of RSI below trendline. (Still looking for the retest at the LL at 1.09260....)
=> Wait for break below SR at 1.10269. RtR 1.08 as shown.
This pair seems to be exiting a period of consolidation from 6 Aug 2019. Prior to that, it had been in a DT since 16 April 2019. As it is exiting the consolidation, a cross in the 21 and 78 EMA’s has formed. If it breaks and closes above the SR @ 72.930 (last LH in the DT), I’ll be looking for a long trade as shown, with the SL at the 78 EMA level. The trade as...
In a DT since 30 June 2019. A retest has formed at the last LH of the DT. Looking either for the DT to continue and the PA to fall, or to break and close above the SR at 108.453. If it falls, I’ll be looking for a break in the RSI and PA trendlines. Alternately if PA continues to rise, this may signal a change to an UT.
Short breakout of 95% regression channel since 30 July 2019 - break and close below bottom of channel.
Also note recent previous RSI trend divergence from PA trend direction.
Waiting for retest of channel bottom as resistance and for RSI reflection below trendline.
Waiting for break and close below SR @1.90652.
4H DT since 25 March 2019. 96% regression fit (not shown)
Possible LL with nice tweezer bottom.
Good RSI trendline with pending cross.
Marginal PA trendline, but concurrent with the RSI from the last LH on 15 August 2019.
A cross of the PA will also cross the 21 EMA.
A subsequent cross of the 78 EMA would probably indicate an ongoing retracement, maybe to a retest...
* PA continues to move down from probable HH, with 3-touch trendline.
* RSI reflecting down from trendline
* W%R break and close 50.
=> SL above PA trendline
=> Set SL to BE at 1.80171
=> TP @ solid SR (recent LH)
= RtR 1.8
Anybody please comment: We are forming a nice double bottom that is below a long-time low from 2016. We are in a 4H DT since 18 July 2019 and a 1W DT since 22 Jan 2018. I think it is time to look for a retracement upwards. But I am not seeing a potential trigger for the trade – the RSI and PA trend crosses are ancient history.
Does anybody have any suggestions...
*Probable RSI break above trendline
*Solid three-touch trendline since 6 May 2019, with probably HL on 22 Aug
=> Looking for a break above the red SR from 10 Dec 2018
Final target @0.92495, with a probable first TP at about 0.91644
No clear trends that I can see here. But the firm resistance level shown in solid blue starting 24 June 2019 looks like it is providing support as shown. I will be looking for a break in the RSI and PA trendlines in support of a long trade.
Also note the support @ 26 Mar 2018 and 3 Jan 2019. If this support remains intact, this also indicates a long trade.
A parallel channel has formed on the 4H USDCHF, but it is in conflict with the recent flat-bottomed bear triangle. If we get a break and close above the top of the triangle with a break of the RSI trendline, I will look for a long trade with a TP near the centerline of the channel. I’m not real thrilled about the SL, but it does give a 1:1 RtR.
8/7/19 6:59 am:
* RSI break above trendline
* Tweezer bottom at likely LL (with pin bar on 1H)
* Previous retracement went to 61.8 Fib of impulse.
=> Need RSI close above trendline
=> Need PA break and close above trendline
=> First price target either 38.2 or 50.0 Fib pending actual entry
Possible break in RSI below its trendline coupled with retest of the previous LL on the 4H DT on 9 June 19 @1.32506. Looking for break of RSI below 50 and of the PA below its trendline as a trigger for a short trade.