<EURCHF>Market Analysis 20200105
Hello everyone.
Let me start the chart analysis of EURCHF with long term analysis.
My chart analysis always begins with long term analysis i.e. monthly chart and/or weekly chart as I would like to have macro perspective.
<Long term candlesticks>
Monthly chart
It is downward trend since 2007. The red diagonal line is the trendline. Which will be used for analysis for other charts as well.
Weekly chart(long term)
It is also in long downward trend.
Weekly chart(short term)
In the long downward trend, it recently makes an upward trend according to the green channel.
We can also see short term downward channel which is red channel.
<Mid term candlesticks>
Daily chart
Only after analyzing the long term charts, then I go down to daily chart. This is daily exercise.
Key points in daily chart is;
-Strong support by the bottom of green channel
-The recent candlesticks break the bottom of the green channel
<Forecast>
My primary scenario is that the price keeps going down as the bottom of the green channel broken and I would aim short position.
The entry point would be close to the bottom of the green channel once the price comes closer to this area.
Since there is a lot of void below current candlesticks, the price would go down much.
Profit taking point will be near red horizontal line which is low price in Sep, 2017.
Loss cut will be above the bottom of the green channel.
Risk/reward will be more than 2 which is good deal if realized.
--------------------------------------------------------------------------------------------------
<Who am I ?>
Hello, everyone.
I am Santa and have been doing forex trading in Thailand.
To me, forex is one of the ways to realize individual life independent from 9-5 jobs and belonging organizations.
I am sharing on social media lifestyle that is free and independent so that people can realize various lifestyles.
My policy on Tradingview is to explain market forecasts based on fact which is price action and logically explain how the market will move.
<Market analysis>
I post market analysis every weekend. Please follow me if you would like to get notified every time new analysis posted
jp.tradingview.com/u/FX365_Thailand/
<Twitter>
I share entry and close of orders on Twitter. Follow me if you would like to know how I make entry based on the market analysis.
twitter.com/thaikabu365
Let me start the chart analysis of EURCHF with long term analysis.
My chart analysis always begins with long term analysis i.e. monthly chart and/or weekly chart as I would like to have macro perspective.
<Long term candlesticks>
Monthly chart
It is downward trend since 2007. The red diagonal line is the trendline. Which will be used for analysis for other charts as well.
Weekly chart(long term)
It is also in long downward trend.
Weekly chart(short term)
In the long downward trend, it recently makes an upward trend according to the green channel.
We can also see short term downward channel which is red channel.
<Mid term candlesticks>
Daily chart
Only after analyzing the long term charts, then I go down to daily chart. This is daily exercise.
Key points in daily chart is;
-Strong support by the bottom of green channel
-The recent candlesticks break the bottom of the green channel
<Forecast>
My primary scenario is that the price keeps going down as the bottom of the green channel broken and I would aim short position.
The entry point would be close to the bottom of the green channel once the price comes closer to this area.
Since there is a lot of void below current candlesticks, the price would go down much.
Profit taking point will be near red horizontal line which is low price in Sep, 2017.
Loss cut will be above the bottom of the green channel.
Risk/reward will be more than 2 which is good deal if realized.
--------------------------------------------------------------------------------------------------
<Who am I ?>
Hello, everyone.
I am Santa and have been doing forex trading in Thailand.
To me, forex is one of the ways to realize individual life independent from 9-5 jobs and belonging organizations.
I am sharing on social media lifestyle that is free and independent so that people can realize various lifestyles.
My policy on Tradingview is to explain market forecasts based on fact which is price action and logically explain how the market will move.
<Market analysis>
I post market analysis every weekend. Please follow me if you would like to get notified every time new analysis posted
jp.tradingview.com/u/FX365_Thailand/
<Twitter>
I share entry and close of orders on Twitter. Follow me if you would like to know how I make entry based on the market analysis.
twitter.com/thaikabu365
■”なぜ”がわかる相場分析
・チャートの動きというファクトを元に
・客観的かつロジカルに
・初心者でもわかるように
相場展望を解説
Followすると投稿の度に通知が届きます。
bit.ly/3s888QI
■Editor's Pick
bit.ly/3pkLCEl
■Blog
bit.ly/2VPAMJk
■Indicator
bit.ly/3lmWYFk
■Membership
bit.ly/3zvLkPG
・チャートの動きというファクトを元に
・客観的かつロジカルに
・初心者でもわかるように
相場展望を解説
Followすると投稿の度に通知が届きます。
bit.ly/3s888QI
■Editor's Pick
bit.ly/3pkLCEl
■Blog
bit.ly/2VPAMJk
■Indicator
bit.ly/3lmWYFk
■Membership
bit.ly/3zvLkPG
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