EURCHF - History Just Keeps On Repeating!
Updated
Analysis:
Bearish Confluences
Bullish Confluences
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Bearish Confluences
- Longer term downwards trend
- Retesting an area of significance
- At the top of a range
- In a descending channel
- Downwards trendline touch
- 23K long position decrease for the EUR
Bullish Confluences
- The EUR is the strongest major currency whereas the AUD is the 2nd weakest major currency
- 2K long position decrease for the CHF
- 2K short position increase for the CHF
- Recent EUR news has been bullish
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Trade active
Our entry criteria has been met and our order has been filled. We are short looking for price to repeat itself yet again and make a move to the downside.Trade closed: stop reached
Trade Closed
(-1.02R) Lost
After Trade Comments:
Some news came out this morning for the CHF which whilst this has helped some of our others trades it wasn't the same for this one. The news was worse then expected for the CHF which caused price to make a substantial move to the upside which is what stopped us out. From the start things were looking good as we saw price fail to break above our area of resistance, however with the news that came out we saw this resistance level get obliterated. Overall this trade was exactly to plan but sometimes news events just don't go in your favour, it's all part of the game. Our other trades are doing well because of the worse then expected news but just not this one unfortunately. With this trade being closed we can now focus on looking for our next setup to capitalise on.
Stay Safe - The JPI Team
Disclaimer
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