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Usdchftrade

USDCHF bullish crab formation, keep an eye out!USDCHF is forming a bullish crab formation with first major support at 0.9605 (ABC Fibonacci extension, bullish harmonic crab formation) and a strong bounce could occur at this level to push price up towards 0.9695 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (34,5,3) is seeing major support above 0.4% where a corresponding bounce could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
1
USDCHF forming a nice reversal with a lot of divergenceSell below 0.9898. Stop loss at 0.9925. Take profit at 0.9843. Reason for the trading strategy (technically): Price has been testing our selling area forming even more divergence. We remain bearish below major resistance at 0.9898 (descending resistance, horizontal overlap resistance, Fibonacci retracement, bearish divergence) and we expect to see a strong drop from here towards 0.9843 support (Fibonacci extension, horizontal swing low support). Stochastic (34,3,1) is seeing major resistance below 97% and also sees bearish divergence vs price, signalling that a reversal is impending.
Short
by MEX_Exchange
1
USDCHF right on major resistance, time to sellSell below 0.9881. Stop loss at 0.9948. Take profit at 0.9738. Reason for the trading strategy (technically): Price is now testing our major selling area resistance at 0.9881 (Fibonacci retracement, horizontal overlap resistance) and we expect to see a strong reaction from this level to push price down to at least 0.9738 support (Fibonacci retracement, horizontal swing low support, price gap). Stochastic (34,3,1) is seeing major resistance at 97% where we expect a corresponding drop from.
Short
by MEX_Exchange
USDCHF approaching major resistance, prepare to sellSell below 0.9881. Stop loss at 0.9948. Take profit at 0.9738. Reason for the trading strategy (technically): Price is testing channel resistance and major resistance at 0.9881 (Fibonacci retracement, horizontal overlap resistance, channel resistance) and we expect to see a strong reaction from this level to push price down to at least 0.9738 support (Fibonacci retracement, horizontal swing low support, price gap). Stochastic (34,3,1) is seeing major resistance at 97% where we expect a corresponding drop from.
Short
by MEX_Exchange
USDCHF profit target reached perfectly, remain bearish Sell below 0.9787. Stop loss at 0.9836. Take profit at 0.9671. Reason for the trading strategy (technically): Price has dropped perfectly and reached our profit target. We look to sell on the break of strong support at 0.9787 for a further push down to at least 0.9671 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support). Stochastic (34,3,1) is telling us that we’ll likely see a bounce any further sideways price action before a drop to confirm our bearish move.
Short
by MEX_Exchange
2
USDCHF reversing below our stop loss resistance, remain bearish Sell below 0.9874. Stop loss at 0.9896. Take profit at 0.9786. Reason for the trading strategy (technically): Price has reversed nicely below our stop loss yesterday. We look to remain bearish below 0.9874 resistance (Fibonacci retracement, horizontal overlap resistance, bearish divergence) for a further push down to at least 0.9786 support (Fibonacci extension, horizontal swing low support). Stochastic (34,3,1) has good downside potential for our remaining drop.
Short
by MEX_Exchange
5
USDCHF testing our selling area and remains bearishSell below 0.9842. Stop loss at 0.9884. Take profit at 0.9733. Reason for the trading strategy (technically): Price has made a pullback to our selling area exactly as expected and is now testing our selling area. We remain bearish looking to sell on strength below major resistance at 0.9842 (Fibonacci retracement, horizontal overlap resistance, breakout pullback, bearish divergence) for a further push down to at least 0.9733 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support). Stochastic (21,3,1) is dropping nicely from our resistance and has also formed bearish divergence vs price signalling that a reversal is impending.
Short
by MEX_Exchange
1
USDCHF right on selling area, time to go short Sell below 0.9842. Stop loss at 0.9884. Take profit at 0.9733. Reason for the trading strategy (technically): Price has made a pullback to our selling area exactly as expected. We remain bearish looking to sell on strength below major resistance at 0.9842 (Fibonacci retracement, horizontal overlap resistance, breakout pullback) for a further push down to at least 0.9733 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support). Stochastic (21,3,1) is approaching our major resistance level of 97% where we expect a corresponding reaction from.
Short
by MEX_Exchange
USDCHF rising as expected to resistance, prepare to sell Sell below 0.9842. Stop loss at 0.9884. Take profit at 0.9733. Reason for the trading strategy (technically): Price has started to bounce nicely as expected towards our breakout area of resistance. We remain bearish looking to sell on strength below major resistance at 0.9842 (Fibonacci retracement, horizontal overlap resistance, breakout pullback) for a further push down to at least 0.9733 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support). Stochastic (21,3,1) is approaching our major resistance level of 97% where we expect a corresponding reaction from.
Short
by MEX_Exchange
USDCHF dropping perfectly towards our profit target,bearishSell below 0.9935. Stop loss at 0.9990. Take profit at 0.9847. Reason for the trading strategy (technically): Price has started to drop really nicely towards our profit target. We look to remain bearish and sell on strength below 0.9935 resistance (Multiple Fibonacci retracement, pullback resistance) for a strong push down to at least 0.9847 support (head and shoulders exit potential, swing low support, Fibonacci extension). Stochastic (34,3,1) is seeing major resistance below 96% and also intermediate resistance at 77% where a further drop is expected.
Short
by MEX_Exchange