Eurchflong
Tue 7th Jun 2022 EUR/CHF Daily Forex Chart Buy SetupGood morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a EUR/CHF. I also closed the remaining Sell trade from the 12th of May for an overall small profit. Enjoy the day all. Cheers. Jim
EURCHF Buy AnalysisFundamentally, Euro maintaining positive outlook with potential for very aggressive rate hikes by ECB.
Technically, setup looked prime for a run with a big imbalance above to be filled along with a trend line liquidity. Below, price has taken out sell side liquidity. Looking for entry within this 2 order blocks on the 1H timeframe.
EURCHF | Perspective for the new weekDespite the general expectation of a break under April’s 1.009 lows in the nearest future; I am of the opinion that a bullish bias from this juncture in the market is also a possibility if a breakout/retest of the key level at 1.03400 happens in the new week. So, this video explains in detail what approach I shall adopt to take advantage of any potential impulse move.
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Jamie Trade Idea - Buying EURCHFTrade Idea: Buying EURCHF
Reasoning: Broke above short term resistance, retesting with bullish candle forming
Entry Level: 1.03190
Take Profit Level: 1.03840
Stop Loss: 1.03010
Risk/Reward: 3.61:1
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EURCHF BUY TRADE IDEAEURCHF
Daily structure we have been bullish. Current market structure shows us currently around a possible Higher low.
4H downtrending but have finally show bullish momentum by closing above previous high. Looking to enter trade at a higher low by looking at lower timeframes for entry.
1H we have closed above previous high and created a new trading range. Fibonacci is placed from low to new high and anticipating a retracement in the snipe zone 78.6% - 88.6%.
Entry is at the last bearish candle on 5m timeframe within the snipe zone.
If price continues to go above high before hitting entry, will update trade for next possible entry!