The chart is based on technical analysis in trading, specifically for the U.S. Dollar/Swiss Franc currency pair on a 2-hour time frame.
1. Indicators and Annotations:
- Resistance Zone: labeled "RESISTANCE." This indicates a price level where the currency pair has historically faced selling pressure, making it difficult for the price to rise above this level.
- Ascending Curve Line: A curved line is drawn under the price action, indicating an upward trend or support level. This line suggests that the price has been supported at increasingly higher levels over time.
- Rectangular Box: An orange rectangular box is drawn around a section of the price action. This could be highlighting a consolidation phase.
- Arrows and Labels:, Indicating buy signals or points of interest based on the trader's strategy.
3. Lower Panel:
- The lower panel of the chart displays a different indicator, possibly a momentum oscillator like the Relative Strength Index (RSI) given the scale and the appearance of the line. This indicator is used to gauge the strength or weakness of the price action.
Tools and Target:
- Tools: The trader is using a combination of technical analysis tools, including trend lines (the ascending curve line), support and resistance levels (the teal resistance zone), and possibly momentum indicators (the lower panel indicator).
- Target:
Buy entry; 0.84230
Target's; 0.85400, 0.86600
stop loss; 0.83100.
Use proper risk management.
Have you any question you can write in comment below.
1. Indicators and Annotations:
- Resistance Zone: labeled "RESISTANCE." This indicates a price level where the currency pair has historically faced selling pressure, making it difficult for the price to rise above this level.
- Ascending Curve Line: A curved line is drawn under the price action, indicating an upward trend or support level. This line suggests that the price has been supported at increasingly higher levels over time.
- Rectangular Box: An orange rectangular box is drawn around a section of the price action. This could be highlighting a consolidation phase.
- Arrows and Labels:, Indicating buy signals or points of interest based on the trader's strategy.
3. Lower Panel:
- The lower panel of the chart displays a different indicator, possibly a momentum oscillator like the Relative Strength Index (RSI) given the scale and the appearance of the line. This indicator is used to gauge the strength or weakness of the price action.
Tools and Target:
- Tools: The trader is using a combination of technical analysis tools, including trend lines (the ascending curve line), support and resistance levels (the teal resistance zone), and possibly momentum indicators (the lower panel indicator).
- Target:
Buy entry; 0.84230
Target's; 0.85400, 0.86600
stop loss; 0.83100.
Use proper risk management.
Have you any question you can write in comment below.
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.
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.