Looking to catch the pull back. It made a long run up and looks exhausted. RSI is overbought. Price is far away from 50MA.
Catching the bounce. Order already triggered. I may close out early if it doesn't seem like it will reach full target. Next, I'll look for a short near the zone at the top.
Posting late. Waited on lowest candle to close and bought on the next when it opened higher. Price was outside 50MA, was due to come back up to it.
Found the zone to enter the trade on the 15min chart. It is in a solid downtrend channel. I think it has exhausted its move toward the upper line of the channel and has a lot of room down at least to the previous low support where I have my TP set slightly above. My only concern is that the near term price may not pull back up to tag me into the trade. It's...
Going short on the pull back up to the marked zone. The huge selloff broke below three uptrending pivots. The recent high pivot failed to make a new high above the previous one. It looks like a new downtrend is established.
Catching the bounce up to most recent resistance. Price is very far away from 50MA and has plenty of room to come back up. Next I'll be looking to put a short order in at the next zone around 1.0975.
The USD made a huge rally and looks to be exhausted now. The DXY hit the 99.19 resistance, which coincides with the USDCHF zone we're in right now. USDCHF is in an overall uptrend but recently made a new low, suggesting a reversal. Current level is back to the 50MA, so it is possible it could continue upward beyond that a little and blast through my stop-loss, but...
USD is showing weakness in all pairs and is in a near-term downtrend on the DXY. Price just came back up to the 50MA, so now it has room to fall again. Shorting at the newest pivot downward.
Long term downtrend looks likely to continue. Price is near previous supply area, as well as making it back up to the 50MA. As far as I can tell, everything points to further downward pressure.
The huge run up broke the longer term downtrend. I think it will pull back a little and continue higher now, but it could pull back a lot more and break through my stop loss.
It looks to be forming the same bearish engulfing bar immediately after a retracement as it has done twice before as shown by the red arrows. The 20MA is below the 200MA and the Stochastic RSI is at an extreme high, indicating a new turn downward. It looks good to continue the downtrend. Target is the next previous support area which also aligns with the price cycle.
Posting a little late. Currently in the trade after run up to the supply zone. It has a lot of room to go back down again.
It had a big sell off that now looks exhausted. Expecting a retracement to previous zone, then a continuation of the downtrend. 20MA is below 200MA to confirm continued near-term weakness.
Looks good to come down, then continue the trend upward.
The sell off looks to have hit the previous supply zone and looks good to turn back up and continue the uptrend.
Looking for breakout of consolidation lower. Target is next major support.