Buy above 0.9474. Stop loss at 0.9441. Take profit at 0.9523. Reason for the trading strategy (technically): Price has bounced up perfectly from our buying area and is fast approaching our profit target. We continue to buy above 0.9474 support (resistance-turned-support level) for a further push up to 0.9523 resistance (Fibonacci retracement, horizontal overlap...
Buy above 0.9440. Stop loss at 0.9419. Take profit at 0.9491. Reason for the trading strategy (technically): Price has dropped further and is now testing major support at 0.9440 (Fibonacci extension, lowest point in past 2 years) and we expect to see a bounce above this level to at least 0.9491 resistance (Fibonacci retracement, horizontal pullback...
US Dollar weakening. Continuing this short as first target at .955
TP: 0.9820 SL: 0.9665 Good Luck!
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There's a pullback from the 78,6% retracement of wave (i), so wave (ii) may have formed, which confirms by the last bullish impulse in wave i. Also, we've got a pullback from the 38,2% retracement of i, so there's an option to have wave iii of (iii) shortly.
The wave structure on the Daily chart is a quite complicated. We've got a leading diagonal in wave (A), a flat pattern in wave (B) and a developing ending diagonal in wave (C). So, wave ((c)) of 5 of (C) is likely going to move on in the direction of the upper side of the diagonal triangle.
As you can see from the chart, we're heading towards a possible turn for this pair. Leakage given by the breakout of one of the two trendline lines could bring the price to a possible good momentum phase. In the event of a breakdown, also due to the loss of the traced support, we could see accelerations to area 0.96550-0,96. In the event of a bullish breakout we...
USD/CHF has breached 1.00 handle and the descending trend line hurdle. A close above the trend line hurdle could yield a re-test of 1.01078 (Apr 10 high). Note that the bullish is coming off a higher bottom formation. The RSI is more likely to break the range on the higher side.
After reaching our 61.8% PRZ our target 2 price and noticing exhaustion (divergence), I'm looking for a move to the downside to retest major structure to either 38.2% or possibly 88.6% to further confirm potential in a bearish Gartley and continue up to our target 3 78.6%
Hi Freedom Traders, in the 60min chart of the USD-CHF a completion of a bullish gartley pattern offers us a trading edge. You find possible entry and exit levels for controlling risk and maximizing profits in the chart. Happy Trading!
USDCHF has just tested February ascending channel's upper range at 1.0110. The resistance level is confirmed by brown descending neckline (dis [layed on the chart below) and R2 pivot point. Short USDCHF from the current level targeting 1.0040 - channel's lower range and purple trendline projection.
Technically Speaking You can't see it on the chart but the 2 level has been a good level to sell against in the past. I sold at 1.0170, stop at 1.0215. Initial target is 1.0000. Here is my checklist I go through before taking a trade. Is this trade worth taking? * Where is the R/R right now? Is it obvious? * Is the market trending or ranging in the time...
Structure is changing with the USDCHF. Keep an eye on lower trend line support and AB=CD with fib cluster level to provide resistance. As of now the best entry level for a Sell was the C level. Wait for new structure to give us a entry. Watch the below areas if you happen to be long.