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CHFUSD

USDCHF false break out and bear flag, Part 2Okay so far the counter move of the wedge/triangle fake breakout, is going perfectly. Broke that bear flag and accelerated down. So keeping the speed of the drop as it should be in the big bearish wedge view. Because if we continue like this coming week, and break that green support around 0.99, we could possibly even see it continue to drop (in waves) to 0.96 and maybe even the 0.93/2 zone. The markets can sometimes open with a gap after the weekend, but when ignoring that we can see what looks to be a basic bullish wedge. Ideally we see it go up and getting rejected below that red resistance zone on the right. This would keep the speed of the drop even better than perfect. If we see it break and get rejected at the red in the middle, it would still be good speed. Think 1.01 should be the real max. Breaking this will kill the speed and we could see a completely different outcome then. So for now, wait and see how this plays out at opening. Previous analysis:
by botje11
1
USDCHF false break out and bear flagLooks like USDCHF made a a false breakout 2 weeks ago. Broke up on the upside of that bullish wedge and broke down again. Past half year i assumed this was a big bearish wedge, while knowing there was a chance it might be an ascending triangle. Because of that big rally a month ago, it looked like the triangle won. Now it seems that one failed as well, which usually suggest a counter move. Now to give it a bit more wiggle room, think we can say that if the green support around 1.0050 breaks, the pull back has probably failed. But then we want to see a fast drop from that bear flag. Think for a normal flag, should see it drop within 48 hours or so. Previous analysis:
by botje11
5
Trading waves inside the Bearish Wedge, Part 5So far this long term short trade is going very good, caught a decent first entry and a perfect second entry (yellow circles). Now there are 2 things i will watch: 1) If we move up and break the red zone, i will close half and wait for a re entry. 2) If we drop and break that big green support zone, i will increase 50 to 100% at the yellow circle. So after seeing something like a bear flag form below that area. Previous analysis:
Short
by botje11
Trading waves inside the Bearish Wedge, Part 4I think finally after almost 3 months of waiting for this one, i think this is the moment has come now. My previous analysis showed a bull flag, which failed completely since the flag never took it's shape. So i was afraid of missing a good entry for a long term short, but after that drop it has rallied up again. Today i already started to short it a bit and now i will take on another batch. Now i will wait some more. If we continue to go up, i will probably add one more time. For the remaining position, i will wait for some real confirmation of weakness. This is a long term trade, so i am not using a stop. I will simply cut my losses when i think the wedge is completely invalidated, not any sooner. Previous analysis:
by botje11
4
Trading waves inside the Bearish Wedge, Part 3You might remember this post from 3 months ago, where i said this big wedge would probably be a very good guideline to trade inside of it. So far playing out almost perfectly. On the right, blue circle, i posted about it in my public channel, that it was likely to be a false break out and potentially even the high of this wedge. But today's move, seems to be a reversal move. So if the bulls can hold this now, we should see another wave up, ideally even making a new high inside the wedge. Because there i will most likely play a long term short. Short term, i will wait for it to drop a bit, ideally inside that flag on the right and not dropping too much. There i will try to go long if i see it turning on the 1m and 5m chart Previous analysis:
by botje11
Trading waves inside the Bearish Wedge, Part 2In my previous analysis, i posted a possible bear flag trade. I have change my mind on this now since the movement of the past days is starting to look like a bullish wedge now. My trade did not even get active, even though it followed the blue line quite well, but i did not like that squeeze up earlier this week. Because the bigger picture suggest a drop is more likely, there is room for another move up. So i am going to wait and see how things go before i enter this trade. If we drop to the lowest point and find support, i will simply just take it on because the RR would be amazing. But if we move like the other blue line, making a higher low, i will simply wait and see how things go first. Previous analysis:
by botje11
USDCHF, good RR ScalpThe previous trade overreached it's target by a lot, so i am going to take another trade on this one. It's not a beautiful bear flag, but because of the extra profit i am going to take it on. Good risk reward as well. On the left we can see a possible long term scenario. If this play out, i will try and make trades during those waves, assuming the general direction will be the blue line. Please don't forget to like if you appreciate this :) Previous analysis:
Short
by botje11
11
CHF/SGD - 250 Pips + Opportunity LONG TERMCHF/SGD is weak and we can expect it to continue it's bearish trend further below on the long term this next few weeks *as long as the 50 EMA holds as resistance on the daily timeframe. It may make some pullbacks up but it is nothing to worry about as long as it never finds support. The reasonw why I leave my SL higher than the 50 EMA just in case. This is a long term trade and the TP target may get changed during the run as the pair makes its move and let's us know how it's doing. The full range and duration of the trade could be up to 2 months. I personally have risked 3% on this pair. Remember, you're not in trading for the quick profits but for the long term gains. Trade safe.
Short
by MoolahMaker