USDCHF - on radar for longs
Updated
Going from daily view with divergence in place (see daily chart below), it could plot Gartley on 4h. Let's see how it will perform in green area - not closing below it on 4h will indicate further rise.
On 1h one can try to exploit this Gartley with long from around 0.9040 to 0.9100 (switch to 1h, apply CD Fib and look for 61.8% retrace), calculate risk and set SL.
For longer term trades, I'll start opening long positions in green area, with SL below red level and TP1 at 0.9160 level. If everything will go according to plan, it should clear up 0.9160, retrace back and continue to rise. But this is just a speculation for now, let's give it time.
Daily chart:
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
On 1h one can try to exploit this Gartley with long from around 0.9040 to 0.9100 (switch to 1h, apply CD Fib and look for 61.8% retrace), calculate risk and set SL.
For longer term trades, I'll start opening long positions in green area, with SL below red level and TP1 at 0.9160 level. If everything will go according to plan, it should clear up 0.9160, retrace back and continue to rise. But this is just a speculation for now, let's give it time.
Daily chart:
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Note
Pattern is not valid anymore, will see what will happen in the afternoon after Powell 's speech.
Related publications
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.