CNHUSD trade ideas
The Trend is Your Friend - USDCNHPlease don't forget to FOLLOW, LIKE, and COMMENT ...
If you like my analysis:)
Trade Safe - Trade Well
Regards,
Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc.
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Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in Forex you should consider your knowledge, investment objectives, and your risk appetite. Only trade/invest with funds you can afford to lose.
USDCNH on a bear flag 🦐USDCNH after the break below the daily structure tested the 6.55000 area.
The price after a false breakout retested the resistance area inside a minor channel.
IF the market will break and close below the support structure we can set a nice short order according to Plancton's strategy.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Leave a comment that is helpful or encouraging. Let's master the markets together
USDCNH looking bearishlooking at how it will react to the 61.8 fib area.
if it holds as resistance, we might see a further push to the downside to areas of 6.4800 after a break of the trendline to the downside.
Another lower low? Key zone of USDCNHI am expecting the recent high being taken out
but the trend is clearly still down trend.
I draw a possible reverse pattern on the chart..
IF the recent high couldn't be penetrated,
then the downtrend will continue.
The nearest zone that would stop it was way below 6.40. Way down there!
USDCNH Bear TrendIt's been a while since I checked on this one, USDCNH is bearish towards 6.5444.
Attention to entry is required for a bullish rejection, because 6.5800 is not clear at this time.
Bearish interests, UC, -2hrly with caution.
*Thank you, happy trading and all the best.
At this profile page, the shared analysis, ideas and also, the strategy of a chart belong to Khiwe. The technical set-ups are speculative, they are not guaranteed for accuracy or in completeness in the form of any content; -it is not to advice on financial markets. Please apply your own analysis and confirm it with price action.
#USDCNH short4h time frame: down trend
1h time: forming a ABCD pattern
it seems starting a new downtrend.
USDCNH D1The US dollar, in anticipation of the presidential elections in the country, has weakened strongly against many world currencies. The Chinese yuan is no exception. Moreover, it was against the Chinese currency that the dollar made one of the strongest devolutions. The exchange rate of these currency pairs is one of the main indicators of the world economy. Because these are the first two economies in the world. Also, the fall in the dollar was influenced by the unstable situation in the country associated with massive protests and huge outbreaks of the Corono virus. America has had some of the highest disease rates. But after the elections, the situation began to stabilize little by little. And the dollar rate began remission. Also, the strengthening of the dollar may be affected by the future stay of OPEC. On which, according to expectations, oil production may continue to decline.
SHORT ON USDCNHUSDCNH has been dropping for sometime now.
short term trade i am looking at how the area of 6.53623 reacts to the price. a break of this area will see a further push to the downside
