USD/CHF: A potential New Channel!
Hello, everybody, and welcome to my TradingView’s profile, my name is Gianni and today I’m going to analyse the USD/CHF, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Daily timeframe:
4 hours timeframe:
1 hour timeframe:
The market has been following a downtrend since a while and few days ago it approached a solid key level the rejected the price to the upside.
A strong bullish impulse moved the price out from the previous down channel and now it seems it’s starting a new movement to the upside inside a new ascending channel.
However, the channel is not confirmed yet, because the market needs to confirm a new higher low on the bottom of the channel.
When, where and why would I step into the market?
I will definitely be looking for a long position on this trade but first, it’s essential a retracement till the bottom of the channel, some consolidation to see if buyers are stepping into the market and then I will plan a long position with a RRR of 1:2 or greater.
My SL would be just below the demand level and the first TP around the new price control.
A breakout to the downside, breaking the demand level would invalidate this new potential channel and no action will be taken on this trade.
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Daily timeframe:
4 hours timeframe:
1 hour timeframe:
The market has been following a downtrend since a while and few days ago it approached a solid key level the rejected the price to the upside.
A strong bullish impulse moved the price out from the previous down channel and now it seems it’s starting a new movement to the upside inside a new ascending channel.
However, the channel is not confirmed yet, because the market needs to confirm a new higher low on the bottom of the channel.
When, where and why would I step into the market?
I will definitely be looking for a long position on this trade but first, it’s essential a retracement till the bottom of the channel, some consolidation to see if buyers are stepping into the market and then I will plan a long position with a RRR of 1:2 or greater.
My SL would be just below the demand level and the first TP around the new price control.
A breakout to the downside, breaking the demand level would invalidate this new potential channel and no action will be taken on this trade.
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.