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Three Drives

GBPCHF | WEEKLY FORECASTThe Pound to Swiss Franc (GBP/CHF) exchange rate rose by 0.02% in the wake of Friday to drop in value in the latter part of the day; with the pairing currently fluctuating around 1.195. I am expecting a temporary downtrend in the form of correction at this juncture in the following week(s). Tendency : Downtrend ( Bearish ) Structure : Harmonic (3 Drive) Observation : i. Anticipation for a reversal appears to be high as price goes through a series of three consecutive Higher Highs indicated on the chart as Drive 1, 2 and 3 to hit my Supply zone. ii. Corrective wave is at 61.8 retracements for each leg. iii. Drive 1, 2 and 3 falls at 1.272 extensions of the corrective waves. iv. A sharp rejection of Supply zone @ 1.20000 could be a signal inciting the Bears presence. Trading plan : SELL confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:3 Potential Duration : 1 to 4days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
AUDCHF Chance to short multiple times.We are planning to short this pair everytime it gets closer to 0.67 level. Trades will be terminated at first target, we'll wait the price to reach to the same level before we short again. Like and comment if you find value in our analysis. Feel free to post your ideas and questions at the comments section. Good luck NOTES: - All trades are executed with a valid signal of our own. As a trader you should develop and test your own entry protocol. - We never trade just because the price reaches the trading zone. This also means that not every idea is a valid trade. - Our analysis are trading ideas not trading signals for you. Therefore questions about the status of the trade, stop loss, take profit levels won't help your progress to be a better trader. - Instead of trying to take this trade and win small profits, focus on the analysis and how to create your own trading style. Best Regards.
Short
by FXTurkey
1
WINUSDT Just hit the buyers zoneWe expect a bullish move, butterfly is completed. Just wait for the red moves to happen and trade the green ones. Like and comment if you find value in our analysis. Feel free to post your ideas and questions at the comments section. Good luck NOTES: - All trades are executed with a valid signal of our own. As a trader you should develop and test your own entry protocol. - We never trade just because the price reaches the trading zone. This also means that not every idea is a valid trade. - Our analysis are trading ideas not trading signals for you. Therefore questions about the status of the trade, stop loss, take profit levels won't help your progress to be a better trader. - Instead of trying to take this trade and win small profits, focus on the analysis and how to create your own trading style. Best Regards.
Long
by FXTurkey
H4 three-drive pattern close to completion, traders...Monthly timeframe: (Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves) The month of May, as you can see, recovered off worst levels out of demand from 1.0488/1.0912 and closed firm. June extended gains to highs at 1.1422 and finished adding 1.19%, despite running into opposition at the lower ledge of nearby supply from 1.1857/1.1352 mid-month (unites with long-term trendline resistance ). July is currently seen toying with the aforesaid supply. With reference to the primary trend, the pair has exhibited clear lower peaks and troughs since 2008. Daily timeframe: Partially altered from previous analysis - The month of June observed EUR/USD address a potential reversal zone (PRZ), derived from a harmonic bearish bat pattern. The base is comprised of an 88.6% Fib level at 1.1395, a 161.8% BC projection at 1.1410 and a 161.8% Fib ext. level at 1.1462 (red oval). It’s typical, in the case of bearish formations, to see traders sell PRZs and place protective stop-loss orders above the X point (1.1495). Common take-profit targets fall in at the 38.2% and 61.8% Fib levels (of legs A/D) at 1.1106 and 1.0926, respectively. As you can see, buyers appear to be gathering traction, leaving sellers in a precarious situation as the Fib targets have yet to be met. H4 timeframe: Buyers and sellers exchanged words at channel support (prior resistance - 1.1422) in recent activity, leading to the pair advancing and crossing paths with resistance at 1.1348. Price action is interesting on this timeframe, as space beyond 1.1348 underscores supply at 1.1415/1.1376, which happens to align with a potential three-drive pattern at the 127.2% Fib ext. level from 1.1383. H1 timeframe: US trade witnessed increased demand for euros as the DXY split 96.50 to the downside. EUR/USD on the H1 timeframe brushed aside 1.13, as well as supply at 1.1316/1.1306, which, as you can see, was later retested as demand before connecting with 1.1350 resistance. While current action is feasting on levels just south of the latter, a violation of the level provides a basis to approach the 1.14 level. Structures of Interest: 1.1350 resistance on the H1 shares the same space with H4 resistance at 1.1348. Ultimately, though, H4 price likely wants to bring in supply at 1.1415/1.1376, and its three-drive pattern at 1.1383. This indicates a possible break above 1.1350 today and test of the aforesaid H4 supply, which may, owing to the area’s confluence, see traders pursue bearish strategies.
Short
by FPMarkets
The Only Bullish Case I Can See for ETHETH is in dangerous territory right now, however, it's also painfully close to a MASSIVE breakout. Regardless, I certainly wouldn't add/add to any positions right now as I admit this is made with some bull bias. However, did just want to share a few trends and patterns I've been seeing that may indicate we're not in quite as bad shape as you may think. Again, only time will tell. I'm long on eth but from the 210 range and im tightening stops now. Other positions include LINK and KNC, and a bit of BTC.
Long
by kdenery
3
GBPUSD Another Holdo PatternPattern is already completed. Like and comment if you find value in our analysis. Feel free to post your ideas and questions at the comments section. Good luck Credit: AbdullahOnder NOTES: - All trades are executed with a valid signal of our own. As a trader you should develop and test your own entry protocol. - We never trade just because the price reaches the trading zone. This also means that not every idea is a valid trade. - Our analysis are trading ideas not trading signals for you. Therefore questions about the status of the trade, stop loss, take profit levels won't help your progress to be a better trader. - Instead of trying to take this trade and win small profits, focus on the analysis and how to create your own trading style. Best Regards.
Short
by FXTurkey
4