Swissie
Get ready for the break upward. It's coming ready or not.The USDCHF is currently consolidation and trading within a downward range.
The correction and retracement is not far away, and will occur by the 15th of April.
You will see a break above from the historical support. Wait for a break above the resistance line.
The Swiss franc *might* go lower, but only so farThe Swiss Franc has always been one of my favourite currencies to trade because it abides by support and resistance lines... except when the SNB intervenes.... ouch that one hurt.
In any case, what you are seeing here are arrows point up from very strong resistance lines stretching back several months. The A arrow points up from the weakest support, the second arrow points up from declining support and the I arrow points up from monthly support. Either way, the USDCHF will bounce up from one of these lines, though as a caveat, a break below and I'd be closing off all your CHF positions.
RSI and CCI are overbought, a confirmation from the MACD would confirm buying opportunity.
Selling CHF also pays overnight premium.
CADCHF - ABC channel exposed.A five-cent range may serve for a change of direction on daily basis. If that is the case, the price would seek the falling trendline (blue-traced line).
Happy trading!
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AUDCHF - Uptrend towards monthly resistance.Some guidance with Rate of Change indicator.
Happy trading!
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EURCHF - An alternate view on current consolidation.Noticeable range between $1.07 & $1.10.
Happy trading!
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EURCHF - Consolidation structure ideaThis pair is playing along a noticeable range between $1.07 & $1.10.
The daily resistance may be strong enough to cease the current wave 'B', or not. For any bearish momentum I would expect the break of the Hourly support.
Happy 2016!
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Trade of the day #9 Trade EUR/CHF between the rangeAs you can see there is a declining overall trend but it's bouncing between the support and resistance lines.
Here is a good idea to trade off the bounce.
Overall, I see more likely a break above the resistance as SNB makes efforts to devalue the Swissie
USDCHF - The path of Dollar/Swissie5 waves up!
Happy trading!
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Trade #19 USDCHF - Trading ABC correction of complex retracementI have been watching USDCHF since the last big impulse down, waiting for its consolidation to resume. The retracement became complex with 5 waves, so I am trading a possible ABC correction of the retracement.
Happy trading!
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Money management of my trades. There are two targets: the first one is at least double of the target two (the farthest). The proportion is 2/1. So, 2 lots for target one and one lot for target two.
Trade #18 GBPCHF - Selling the triangle completion.I have identified this contracting triangle which gives a good opportunity to antecipate the next wave just before the consolidation ends.
At 15 minutes timeframe the 'E' wave has it structure broken (the thin blue line). So I placed the orders at the break-point of the line.
Happy trading!