EURCHF is currently consolidating near a major resistance zone. I'm looking forward to entering into a short trade after some confirmation. This trade should give a decent R:R once it meets the sell criteria.
The confirmation I'm looking for is 4-hour candle close below the 20 and 50 EMA. If the candle closed below the current support near 1.10339, that'd be an even better signal.
As a side note, I've noticed some correlation between the USDCHF and EURCHF on lower timeframes. So, the EURCHF might drop with USDCHF after today's data. But so for, this is my theory, I haven't fact-checked the correlation yet.
Feel free to leave a like and your thoughts.
The confirmation I'm looking for is 4-hour candle close below the 20 and 50 EMA. If the candle closed below the current support near 1.10339, that'd be an even better signal.
As a side note, I've noticed some correlation between the USDCHF and EURCHF on lower timeframes. So, the EURCHF might drop with USDCHF after today's data. But so for, this is my theory, I haven't fact-checked the correlation yet.
Feel free to leave a like and your thoughts.
Note
TP 1 reachedTrade closed: target reached
TP 2 reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.