USDCHF Dynamic Support| Daily S/R| 200 MA| Price Action
Evening Traders,
Today’s analysis – USDCHF- currently trading back within its apex where a break will be imminent,
Points to consider,
- Price Action Higher Lows
- Daily S/R Resistance
- 200 MA Support
- Oscillators Divergence
- Price Apex
USDCHF’s immediate price action is establishing higher lows and higher highs. This allows us to have a bullish bias on the market.
The current dynamic support in confluence with the 200 MA has been respected. Price will remain bullish as long as the higher lows are maintained.
The Daily S/R is a key level that needs to be breached for valid longs, price consolidating underneath will be considered bullish as buyers are willing to push at higher prices.
Both oscillators have a valid bullish divergence which is likely to have played out with the recent impulse.
Overall, in my opinion, a long trade it valid when Daily S/R is breached, risk is to be defined. Price action is to be used upon discretion/ management of trade.
Hope this analysis helps
Thank you for following my work!
And remember,
There is no single market secret to discover, no single correct way to trade the markets. Those seeking the one true answer to the markets haven’t even gotten as far as asking the right question, let alone getting the right answer.
-Jack Schwager
Today’s analysis – USDCHF- currently trading back within its apex where a break will be imminent,
Points to consider,
- Price Action Higher Lows
- Daily S/R Resistance
- 200 MA Support
- Oscillators Divergence
- Price Apex
USDCHF’s immediate price action is establishing higher lows and higher highs. This allows us to have a bullish bias on the market.
The current dynamic support in confluence with the 200 MA has been respected. Price will remain bullish as long as the higher lows are maintained.
The Daily S/R is a key level that needs to be breached for valid longs, price consolidating underneath will be considered bullish as buyers are willing to push at higher prices.
Both oscillators have a valid bullish divergence which is likely to have played out with the recent impulse.
Overall, in my opinion, a long trade it valid when Daily S/R is breached, risk is to be defined. Price action is to be used upon discretion/ management of trade.
Hope this analysis helps
Thank you for following my work!
And remember,
There is no single market secret to discover, no single correct way to trade the markets. Those seeking the one true answer to the markets haven’t even gotten as far as asking the right question, let alone getting the right answer.
-Jack Schwager
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