Chart Idea - Swing Long on CHFSDGSwing Long on CHFSDG
Confirmations:
- Making a double bottom on daily TF
- RSI is oversold on daily TF
- Already made a reversal on 4hr TF
Entry - 1.49552
TP - 1.53181
SL - 1.48433
Chfsgdlong
CHFSGD - LONG POSITION (2)Bullish structure
HH,HL formation
Bullish Hammer spotted at HL
Entry : 1.45840
SL: 1.45740
CHFSGD ANALYSIS AND BUY TRADE IDEAHello everyone, if you like the idea, do not forget to support with a LIKE and FOLLOW for more creation of free analysis. \m/
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
SGD/CHF - Long Term ShortSGD/CHF is not holding strong and broke under the 50 EMA on the daily timeframe.
MACD daily has also crossed the zero line and we have convergence down.
AS the pair goes down, we will see how strong the bearish move is and wheter we can keep holding to the next TPs.
First TP: 0.7153
Second TP: 0.7105
Third TP: 0.7055
You must leave enough space for your SL. That is, put it above the daily 50 EMA, or simply, above the last daily candle close with a little bit of space to it.
Trade safe.
