Swissie
USCHF breakout on the weekly?Swissie is effectively at the same level it was 2 years ago before the SNB dropped it's peg. Despite the volatility from that fallout price action has remained quite muted. I'm hoping to see a sustained breakout to the upside on the back of the strong dollar.
Parallel channel lines fit nicely, so the potential is there. We'll need to see a weekly close above 1.0320 to add to longs and confirm our bias.
GBPCHF - Impulse on hourly chart & Fibonacci projections.Fibonacci retracement & extension to measure price-action. The interaction between actionary and reactionary waves can be understood with the Fibonacci tools.
Market conditions can be similar in some aspects; however, they are always different comparing to the past. To rely on fibonacci tool for trading it is necessary to have a reason to use it. In other words, you use it not trying to replicate previous scenarios, but to measure what is going on in present.
Happy trading!
Swissie ready to break out of trading range?USDCHF continues to trade sideways for 2016. We've just had the US elections. Will this be a catalyst for a breakout of some quite frankly boring trading? (if you're a trend trader). I still maintain that we should see higher prices to come in the longer term. Whether that will happen now or perhaps the start of 2017 is anyone's guess..
CHFJPY BREAKOUT TRADEPRICE IS FINISHING THE CONSOLIDATION PERIOD. EXPECT A BREAKOUT.
ON THE CHART ATR LEVEL OF 1.4113 AND BEYOND THAT IS CONSIDERED AS HIGH VOLATILITY FOR THIS CURRENCY PAIR.
FOR BUY:
ENTER TRADE ABOVE 1.4113 VOLATILITY LEVEL; CONFIRMATION SHOULD BE A BREAK OF THE 106.326 FIB LEVEL.
FOR SELL:
ENTER TRADE ENTER TRADE ABOVE 1.4113 VOLATILITY LEVEL.
IN ORDER TO AVOID FALSE BREAKOUTS, ENTER TRADE AT 50 PIPS ABOVE OR BELOW THE PRICE LEVEL.
STOP LOSS 100 PIPS