As we can see price created a head and shoulders pattern and broke out of it in a impulsive manner. Strengthening the break out. My overall direction on USD/CHF is bearish.
I spotted a inverted head and shoulders pattern formation. If you go to a 1 hour chart you find that price broke out, however i suggest we wait for the 4 hour chart to close before making entry decisions.
Price broke out the descending channel i have drawn above and has recently retested, however we can also see that price has formed a possible inverted head and shoulders pattern indicating a possible bullish trend. I also spotted an entry signal which came as a bullish engulfing candle. Remember to use good risk management.
Here we can see that price formed a inverted head and shoulders pattern and price has recently broken out of it. I also noticed that price broke out impulsively which confirms the break out in my book. If you do take the trade remember to use risk management.
Price has recently tested a key zone and has rejected it. We can also see that price could be forming a possible double top. The double top will be confirmed once price breaks below the support trendline (Neckline). Lets also focus on the movement of price before breakout(if it does breakout) we want a retest either before or after breakout before considering entry.
Price played out as we expected. We can see above that price created a fake out before giving us an entry confirmation which was the evening star. Its important to watch the approach of price towards a significant level/zone.
Price went bulllish as previously expected. We can Also see that price rejected the support trendline i the form of a double bottom, which is a strong entry signal on its own.
Prices overall direction in my opinion is bearish, however we could see price go bullish temporarily. As long as price is still within this ascending channel, i expect bullish movement.
As we can see above price seems to be in a range. however if it breaks above the resistance zone, price would be confirming a double bottom. The current approach towards the resistance tells me that we could see a push to the support zone. Still waiting for confirmation.
As we can see above price formed an Ascending wedge pattern and price is showing a possible bearish trend in the making. As we wait for a clear breakout, keep in mind that price could start a correction phase before giving us an impulsive push lower. Lets wait and see what happens.
As we can see in the analysis above price has been in a downtrend, recently price has broken below a zone of support now resistance and retested forming a bearish engulfing candle indicating a rejection and entry in my opinion. I expect price to drop until 0.73073. I suggest using good risk management as the Asian session approaches.
In the analysis above we can see price has been forming a Ascending wedge formation towards a daily down trending resistance trendline. We can also see if you look at the daily or 1 hour chart that we have been in a bearish trend for some time. If you look at the 1 hour chart we can spot possible double top formation, if price breaks below 151.838 and gives a...
Price broke out the Rising Wedge formation in an impulsive manner and has retested. I am looking to sell until the level 118.964 before looking for reversals.
Price has been correcting for a minute now, We can see that price is currently forming a possible head and shoulders at a daily resistance trendline. I am currently waiting for an impulsive break below level 1.85050 before looking for bearish entries.
Price broke out a descending trendline in an impulsive manner and retested also showing us rejection at the breakout level, i also spotted a morning star formation which confirms the bullish prediction. i expect price to reach 1.71117
After prices impulsive breakout i set my stop below close while price was retesting and price dropped as expected to hit our Target.
We can see that price has created a rising wedge. We can also see that price has impulsively broken out the pattern and could begin its descent to either the diagonal support or horizontal support. A retest may occur , price should show us rejection at the broken support which will confirm my overall short.
Price recently broke below a key level in an impulsive manner thus validating the breakout, price has since then been correcting towards the key level(resistance) and could be bearish until 25.68684. Ofcourse we still need rejection at the key level from price before confirming sells. We can also see that price could be forming a head and shoulders pattern, this...