EURCHF 10-83-100EMA Cross-OverSTRATEGY: 10-83/100EMA X-Over
Focus Time Frame: 4H
Long Term Trend Time Frame: 1D/4H
Market Condition: Ranging
Area of Value (AOV): 50EMA
Entry Trigger: Bearish Engulfing
Entry Price (EP): 1.09830
Stop Loss (SL): 1.10305
Take Profit (TP): 1.08422 (2.96R)
Analysis
On October 18, 2019 at 4:00 AM, price found support at 50EMA. Price continued to go up but failed to break above 1.10603. After that, price closed below 10EMA, found support at 83/100EMA but failed to break above 50EMA. Price somehow creating Higher Lows and currently respecting 50EMA which acts as Resistance.
Price also closed below 100 and 120EMA and seems to continue going down.
Note: This post is for my reference/journal purposes only. Trade at your own risk.
