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Usdchfsell

[TRADE UPDATE] Quick update on the progression of this idea from last week as expected early last week we got the sell off at the strong WEEKLY resistance area with price currently trekking towards the breakout area at 0.925 which is also a weekly DEMAND/BUY area. The current sell position is up around 100 pips I have closed 50% of the position and moved stop loss to 0.938 will hold remaining position to see if we get to the 0.925 expected level. At this point I will then look to buy this pair please refer to related post to understand the reasoning behind this setup
Short
by TheFxAce
2
Short Term SELL On The Cards ?? We have 2 ideas in one post here both a BUY and short term SELL postion after weeks of being in the accumulation stage (green box)we finally got the break out higher this week with the biggest move happening yesterday after the PCE US data. What normally happens after an accumulation breakout is you will get a pull back towards a newly formed DEMAND/BUY zone or the high of the accumulation structure which I have marked with the green line where you have both a newly formed Daily DEMAND/BUY zone and a previous high so you should see a pull back to this area this will be an area where I will look to buy again to target the 0.96 area market with the RED BOX. So where is it good to SELL to benefit from this pull back ?? Where price now is a good area to look for a short term SELL as you can see marked with the arrows we have reached a strong WEEKLY resistance which has acted as both a support and resistance area previously and gets a reaction everytime price reaches here. Looking at the lower timeframes price is extremely over bought so I expect a sell off early next week from this area so will SELL on Monday when markets open. Sell entry will be 0.941 stop loss will be 0.954 take profit will be 0.927 Hope you enjoyed this post
Short
by TheFxAce
4
#USDCHFCurrently, the best strategy is in the above wide range. In dealing with the resistance zone in the ceiling and creating a negative divergence of the two-peak bit, it is expected that by maintaining the support ranges of 0.92856 and 0.92709, it will decrease to the ranges of 0.92374 and 0.92245, which is based on the Fibo projection of 100 and 127, and in If they fail, we have an important pivot point area in the range of 0.92142 and the last stage can be expected in the range of 0.92075. The last 3 targets are inside the red box and there is already a fluctuating area where there is a possibility of conflict in this range. It is not necessary to touch all the targets.
Short
by maryammh
1