CHFSGD ANALYSIS AND BUY TRADE IDEA
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On the Monthly we are currently in an uptrend.
Dropping down on the Weekly the market has just printed out a W formation where its currently testing a strong structure of support where the market has retested this in the past and is currently at the wick of the neckline on the W pattern. If we see the market retest on the structure we can expect a continuation to the upside. We can also see the EMAs is nearly cut for long though MACD is still below 0.
On the 4H timeframe this is where we take our trade. We will base our entry on the structure retest and our take profit is at the fibo of the impulse of the weekly W pattern, our stop loss is below the last low which is also another structure level in ther market
Trade Signal
BUY
Entry: 1.46672
Take Profit: 1.49248
Stop Loss: 1.46055
Good luck!
Trade wisely, please do proper money management.
~FX_SHIFTER
On the Monthly we are currently in an uptrend.
Dropping down on the Weekly the market has just printed out a W formation where its currently testing a strong structure of support where the market has retested this in the past and is currently at the wick of the neckline on the W pattern. If we see the market retest on the structure we can expect a continuation to the upside. We can also see the EMAs is nearly cut for long though MACD is still below 0.
On the 4H timeframe this is where we take our trade. We will base our entry on the structure retest and our take profit is at the fibo of the impulse of the weekly W pattern, our stop loss is below the last low which is also another structure level in ther market
Trade Signal
BUY
Entry: 1.46672
Take Profit: 1.49248
Stop Loss: 1.46055
Good luck!
Trade wisely, please do proper money management.
~FX_SHIFTER
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