NZDCHF has now formed a bearish shark pattern, but I've extended it while keeping it to the standards of a bearish shark pattern on the 4h TF. I am waiting for a reversal indication to develop before entering a short position on this pair. Check out my other idea on NZDCHF to get even more details why this is currently on my watch list this week. As always thanks...
USDCHF has a possible sell set up forming. Price is currently in a descending channel and has great momentum to complete the move towards the upper trend line of the channel, which also falls in a PRZ. I will be looking for signs of further divergence, price consolidation and also candle setup to short this pair when it reaches the PRZ. There is also a potential...
NZDCHF has a possible sell set up forming. This analysis is very similar to my USDCHF analysis. Price is currently in a descending channel and just like the other pair has great momentum to run to the upper trend line of the channel, which also falls in a PRZ. Just as my other analysis there are other variables that need to be known before entering this trade....
Good Morning TV members, GBPUSD is showing indication of a possible selling opportunity. The divergence on H4 along with price action consolidating in the PRZ, and the approach to the upper trend line is decelerating with these variables giving us confluence to sell this pair to the indicated level. Thanks for checking out the chart and have a great trading week!
Chart show's details for a long position on this pair.
Will enter a long position as indicated on chart.
Confirmation to execute this idea will be dependent on PA (Price Action) closing below $47.00, which will be out of the PRZ (Price Reversal Zone). It has respected this zone more than once, which highlights how strong this support area has been and how significant it will be if it can close below it. Be mindful of API and EIA weekly inventory data while trading...
This pair has been taking a lot of beating lately and it looks to be ready for a small relief from the going lower and running back up to 110.088.
Grouping the USDCHF idea with DXY due to correlation.