Usdchftrade
USDCHF, 4hr tf, sell on weekly resistanceHello everyone,
USDCHF also on interesting level to sell as well.
As you can see 0.8900 acted as weekly resistance for now.
We might see price rejected to the downside so a sell position looks favorable.
Notice also the last 4hr candle also a bearish pinbar candle so i am pretty sure bears in control for now
Sell USDCHF 0.8890
Stop loss 0.8925
Take profit 0.8830 (1.7R)
RR Ratio 1 : 1.7
Use only 1-2% risk
Good luck
USDCHF| FALLING WEDGE|ANALYSISPRICE ACTION:
• Price action finds first resistance (1), where it reverses direction and goes downwards till
finding first support (2).
• Price action reverse direction from support (2) and goes upwards, till finding the second
resistance (3) which must be lower than the first resistance (1).
• Price action reverse direction from resistance (3) and goes downwards, till finding the
second support (4), which must be lower than the first support (2).
• The pattern is completed when price action reverse direction from (4) and goes upwards till
it breaks the wedge's upper border at point (5).
TRADING THE PATTERN
• Trade entry: after breaking the wedge's upper border at point (5), with an entry after
confirming the breakout.
• Take profit: identified by measuring the vertical distance from the wedge's highest high (1)
to the wedge's lower border, that measurement is then applied from the breakout point
(5).
• Stop loss: the wedge's lowest low (4).
PLEASE LIKE THE IDEA IF YOU FOUND IT USEFUL.
UsdChf- to break important supportThe trend for UsdChf is strongly and clearly down. Since the recent touch of 0.9 support, the pair traded in a 200 pips range and I think this range is about to broken down.
With DXY also strongly bearish, UsdChf can drop to 0.87 zone in the medium term.
0.9050-0.9070 could be a good place to search for selling signals.
My bearish outlook is negated by a daily close above 0.92
USDCHF 100 Pips Swing trade Will it break 100,200 EMA resistanceUSDCHF
*********
⏳14 Hour chart
🎲 Swing trade
⛳️Bullish entry
—————-❇️——————-
Detailed analysis 💬
1️⃣ 0.90000 Swiss national bank intervention level
2️⃣ 0.90000 Strong trend reversal area
3️⃣ Positive risk sentiment, Vaccine news, Selling off CHF
4️⃣ RSI has reached around 39.00 Oversold condition
5️⃣ MACD about to cross the signal line, histogram is slowly fading towards green
6️⃣ Stochastic reached below 25 Oversold condition
7️⃣ Short term Technical support - Bullish
8️⃣ 50,100,200 EMA cluster resistance for bull
9️⃣ Bollinger bands reached lower side of the band
🔟 Possible swing target-0.91400 (23.6% Fibonacci) Point of control area
#️⃣ Overall long-term trend- Bearish
—————-⚜️——————-
Bullish entry #usdchf
Entry price -0.90400
Take profit 01 - 0.90900 (50 Pips)
Take profit 02 - 0.91400 (100 Pips)
🚫 Stop lose 0.90050 ( 35 Pips)
⬆️ 1.11% Growth expected
⤴️ Account growth .39 : 1.11
✅ Risk reward ratio 1 : 2.84
—————-⚜️——————-
USDCHF Sharp MoveAs see on the USDCHF chart, there is divergence on rsi and rejecting the price from the resistance above it and the blue trendline the price has high chance of sharp drop to the below support level
Caution : be careful about the green trendline and close the trade if things goes wrong in that area
USD/CHF Wave Analysis
The counter has been in a downtrend since the start of this year.
The price was consolidating in a narrow for the last few months which could be interpreted as wave 4 of Elliott wave.
Now it is on the brink of rendering a bearish breakout.
We expect it to breakdown and complete wave 5.