EURCHF Trade Plan
Updated
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EURCHF has has been on a decline since it formed a high at around 1.093 in mid-September. The price action however has seen a lot of slowness in the bearish trend as momentum has been diminishing of late. Over the past three weeks we have seen price ranging behavior. We have a break of a major swing to the upside preceded by what appears to be price sweeps of lows. We may be in a great trade if we see PA on LTF as indicated in the chart. We want to see clear intent of price breaking upwards with strong momentum and a slow retrace to the QM level for the buy setup to be valid.
EURCHF has has been on a decline since it formed a high at around 1.093 in mid-September. The price action however has seen a lot of slowness in the bearish trend as momentum has been diminishing of late. Over the past three weeks we have seen price ranging behavior. We have a break of a major swing to the upside preceded by what appears to be price sweeps of lows. We may be in a great trade if we see PA on LTF as indicated in the chart. We want to see clear intent of price breaking upwards with strong momentum and a slow retrace to the QM level for the buy setup to be valid.
Note
1st move exacty as planned. Second move as planned with price printing huge momentum candles. With this, the third move (buy plan) is now invalidated.
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