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looking for a long opportunity after it hits point D or short again at 618 pullback
EU potential cypher pattern on the daily chart. huge pullback for EU and then i am looking for an opportunity to short.
-sitting below EMAs -broke off from the uptrend -first test on the 1.272 level -waiting for pullback to retest the previous resistance level for a shorting opportunity
-hidden bearish divergence -still underneath the 89 EMA -major resistance at 382 level -USD continues to gain strength
-downtrend channel broken -pullback on uptrend around .382 -heading towards .618 next -RSI showing a strong uptrend move as well
-after the news, USDCHF is still on a downtrend in my opinion -RSI divergence -Spinning top formation (bearish) -TPs are set according to 382 and 618 fib levels -possible pullback after 382, wait for confirmation. -r/r ratio 1:1.3 feel free to leave comments and feedback as they do help me improve my trading. Happy trading! Joe
feedbacks and comments are welcomed! Fairly new trader here looking to learn as much as I can. Would love to hear feedback from everyone so i can improve my skill and acquire knowledge from you guys. Thank you in advanced!
-gold hit .382 level -pulling back now -good entry opportunity to go long -tp2 will be .618 level
-oversold condition -created a downtrend channel -aiming .382 for tp1 -might retrace back up and fall down to tp2 .618 -watch out for broken channel => reversal
Time to short on GOLD! Approaching heavy zone and got rejected. EMA is also acting as a resistance. This is a pullback trade in the money.
EU did not break resistance, a strong selling pressure. Might be a good short opportunity.
still waiting on confirmation but there is a possible long opportunity on UJ