USDCHF 15min chart, Bearish Direction15min RSi + 30 min RSI here for entry. Got a 20pip stop loss and targeting a 1:3RR.
Currecnies
NZDCHF Daily S/R|Impulse Sell|Support Zone|Oversold Bounce| PAEvening Traders,
Today’s Second Analysis – NZDCHF- breaking below Daily S/R with an impulse, an oversold bounce is probable.
Points to consider,
- Price Action Bearish
- Supply Zone Target
- Daily S/R Resistance
- Oscillators Extended
- Declining Volume
NZDCHF’s immediate price action is bearish breaking key daily level; this allows us to have a bearish bias on the market.
The initial target is the supply zone; a bounce here is probable as the base of the bullish engulfing resides in confluence.
The Daily S/R is crucial resistance; a back test will confirm a bearish retest of the level.
Both oscillators are approaching oversold conditions; this increases the probability of an oversold bounce. A volume influx will coincide with this as current volume is low.
Overall, in my opinion, NZDCHF is a valid long with defined risk; price action is to be used upon discretion/ management of trade.
Hope this analysis helps
Thank you for following my work!
And remember,
“Reaching any goal in trading requires specific domain knowledge and technical skills. But then, after that, it's all mindset management. Yet most people ignore that —they automatically think they have that last part all figured out, and it's a mistake.”
― Yvan Byeajee
EURUSD: Consolidation, what s next?
EURUSD extending its consolidation. Growing concern about a potential double top forming with the neckline 1.1685/00.
Potential trade: If you want to preempt the double top. Sell 1.1830/40 S/L 1.1855 bid.
On the other hand if you do believe this is a consolidation before a run up to the 1.1900/1.2000 area. Buy 1.1700/1.1685 tight Stop loss
@ 1.1665.
