SELL SHORT from .9700 - Potential M TopI have recently posted some recommended trades that take advantage of gaps in the market.
I did receive some adverse comments from someone who clearly doesn't understand enough about FX trading.
I've been trading FX over 25 years.
The key to making money by trading FX is to look for ANY market advantage.
If you can identity certain well established and accepted key patterns (gaps, double tops, M-Top, W-Bottoms, pinbars, morning and evening stars etc etc) then you have a gained an advantage.
That's not to say that gaps, double tops, M-Tops etc etc ALWAYS work out - of course they don't BUT............................they STATISTICALLY are proven to work out MORE OFTEN THAN NOT.
So trading these patterns and candles make perfect trading sense.
The key is identifying these patterns as they form and being ready to trade them.
Yesterday we had a double top bang on WR1 resistance.
Anyone who DOESN'T use pivots is a fool as far as I'm concerned as pivots are THE ONLY indicator that is set at the start of the week and as these support and resistance levels are frequently where traders will have SELL LIMIT or BUY LIMIT orders and they are also levels where traders will liquidate LONGS and SHORTS then you can prepare for a trade in advance.
The EUR/CHF trade I suggested yesterday did not work out.
I lost around 18 pips - so I'm not concerned because if the price DOES reverse from current levels then its likely to target the gap which would be 100 pips.
So, as we have an M-Top pattern forming at resistance, I have a SELL STOP positioned at .9706 which is just below the WR1 pivot and this is the neckline of the M-Top.
Remember - this pattern has NOT yet completed and will only complete if we see price head south down past .9706 over the next few hours.
Eurchfshort
EUR/CHF is carving out a twin top - SHORT from .9700EUR/CHF opened with a gap this week and anyone who follows my posts will know that I always trade gaps as they ALWAYS fill.
I'd expected the gap on EUR/CHF to have filled yesterday as price hit WR1 key resistance pivot but EUR/CHF BULLS managed to push the price back to WR1.
One hour ago WR1 was hit and we now habe a double right on WR1.
This is very BEARISH.
I'm SHORT this pair from .9700 with STOP above the high at .9718 and a target of .9628 which will close the gap.
RSI on H1 is declining though it should be noted that the red SELL line on the Andean Oscillator on H1 has yet to move off zero though it has on M30.
MACD has also not yet signalled we a re SHORT so this trade is not a done deal and we cannot rule out EUR/CHF BULLS pushing the price back to the WR1 pivot.
The trade has an 18 pip STOP so there's not much damage done if the price reverses though its highly probable that even if the price does head back north to WR1, its unlikely to make much further progress past this level.
So the next key level is .9695 which will break the 200 EMA on M1 and this will then act as resistance to EUR/CHF BULLS.
Swiss Franc: The Economic Bulwark Amid Global UncertaintiesThe Swiss franc (CHF) retains its position as a cornerstone of financial stability within the dynamic global economic environment. The recent strategic adjustments to interest rates by the Swiss National Bank (SNB) underscore Switzerland's distinct macroeconomic landscape relative to Europe. This analysis delves into the implications of these adjustments and the broader significance of the CHF in today's global financial arena.
Key Considerations:
The SNB's proactive interest rate cuts demonstrate a data-driven approach to managing the CHF's valuation.
The CHF's historical association with stability makes it a sought-after asset during periods of heightened geopolitical tensions, as evidenced by recent investor behavior.
The SNB prioritizes maintaining price stability while mitigating the risk of excessive CHF appreciation, as Chairman Thomas Jordan's recent comments suggest.
Switzerland's ongoing exploration of central bank digital currencies (CBDCs) positions the CHF at the forefront of financial innovation, potentially solidifying its global financial standing.
Investment Thesis:
The SNB's commitment to monitoring inflation and exchange rate developments suggests a willingness to intervene if necessary, ensuring the CHF's stability and insulating the Swiss economy from external shocks. This proactive approach positions the CHF for continued strength within the global financial landscape.
EUR/CHF Technical AnalysisEUR/CHF Technical Analysis
Timeframe: 15-Minute Chart
Chart Overview:
In this 15-minute EUR/CHF chart, we observe a clear descending trend characterized by lower highs and lower lows. The price action reflects a bearish sentiment with key support and resistance levels marked to guide potential trading decisions.
Key Elements:
1. Descending Channel:
- The price is moving within a descending channel, indicating a prevailing bearish trend. The channel is defined by the upper resistance trendline and the lower support trendline.
- This channel suggests that the price is making lower highs and lower lows, a classic sign of a downtrend.
2. Support and Resistance Levels:
- Resistance Levels: Key resistance levels are marked at 0.97421 and 0.96952. These levels have previously acted as support, but now they may act as resistance as the price approaches them from below.
- Support Levels: Significant support levels are identified at 0.95532 and 0.94752. These levels have provided a floor for the price action in the past and could be potential bounce points.
3. Price Patterns:
A consolidation pattern is observed around the 0.95532 support level, where the price seems to be stabilizing after a significant downtrend.
This consolidation could signal an accumulation phase, where buyers are gathering strength before a potential breakout.
### Conclusion:
The EUR/CHF pair is currently in a bearish trend within a descending channel. Key support and resistance levels provide potential entry and exit points for trades. Volume spikes indicate significant market activity around these levels, making them critical for trading decisions. Always manage your risk with appropriate stop losses and position sizing.
EURCHF | Short D1 | Market Exec | Building Momentum for Risk OffTechnical Confluences for Trade:
- Stochastics are in Overbought Conditions on D1, H4 and H1 time-frames
- Stochastics are also Overbought in multiple Cross-CHF pairs and even on USDCHF pair.
- Price action is close to multiple Supply zones
- Price action is close to multiple Resistance Trendlines as well
- Targeting the 50% Fibo retracement for this trade
Fundamental Confluences for Trade:
- There seems to be some disconnect between asset classes and with everyone already so 'risk-on', the risk-off build up momentum is ripe for the taking.
Suggested Trade:
Entry @ Area of Interest 0.9830 - 0.9870
SL @ 0.9942
TP 1 @ 0.9720 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 0.9598
Risk-to-Reward @ Approx. 2.59 (Depending on Entry Level)
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Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated!
If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies.
If you want something analyzed, do drop me a DM. :D
________________________________
Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks.
Any websites / brokers / applications suggested here are also provided as informational purpose only.
________________________________
Euro bearish guard against Swiss francAt the same time as the price hits the ceiling of the descending channel, it has formed a AB=CD pattern as well as 5 rising Elliott waves. Between wave 3 and 5, we see the formation of negative divergence in the RSI indicator. It is expected that we will see the price fall at least to the Fibonacci range of 23%.
EURCHF - Long from trendline ✅Hello traders!
‼️ This is my perspective on EURCHF.
Technical analysis: Here we are in a bullish market structure from daily timeframe perspective, so I look only for long position. I have a confluence for a long position if price makes a retracement and then rejects from trendline + liquidity zone + institutional big figure 0.98000.
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EUR/CHF - Bearish Bat Harmonic Pattern Signals Bearish TrendThe EUR/CHF currency pair is currently exhibiting a Bearish Bat Harmonic Pattern (XABCD) on the 4-hour chart. Point D, identified as the Potential Reversal Zone (PRZ), aligns with a critical Key Resistance area and intersects with a significant 4-hour Trend Line. This confluence of factors strengthens our bearish bias and suggests a potential bullish trend reversal from Point D.
Bearish Bat Harmonic Pattern:
The Bearish Bat Harmonic Pattern is a reliable technical indicator that signals potential reversal points in the market. In this case, the pattern's completion at Point D indicates a high probability of a trend reversal from bearish to bullish. This is supported by the alignment of Point D with a Key Resistance area and a 4-hour Trend Line, providing additional validation for this setup.
Confluence Factors:
Key Resistance Area: Point D coincides with a significant resistance level that has historically impeded upward price movement.
4-hour Trend Line: The intersection of Point D with the 4-hour Trend Line further confirms the likelihood of a bearish-to-bullish reversal.
Trade Setup:
Entry Point: 0.98030
Stop Loss: 0.98400
Take Profit Levels
TP-1: 0.97655
TP-2: 0.97280
TP-3: 0.96900
Conclusion:
The confluence of the Bearish Bat Harmonic Pattern, Key Resistance area, and 4-hour Trend Line suggests a high probability of a bullish trend reversal from Point D. Traders should consider entering at 0.98030, with a stop loss at 0.98400, and aim for the specified take profit levels. This setup offers a strategic opportunity to capitalize on the anticipated market reversal.
#EURCHF: 400+ PIPS SELLING OPPORTUNITY Dear Traders,
EURCHF, we have witness a strong change of character in the price, now we expect price to do small correction and reject from our entry point, we also have added stop loss and our take profit areas to make it more clear to all of you. Please keep in mind that tomorrow is NFP and market will likely to remain extremely bullish.
We wish you a great weekend, and we expect all of your support to continued.
Good luck.
EURCHF | Short H1 | Market Exec | Taking a Safe Haven TradeTechnical Confluences for Trade:
- Stochastics are in Overbought Conditions on H4 & D1 time-frame
- Price action is at a Consolidation/Supply area
- Price action may reverse towards the lower Consolidation/Demand area
Suggested Trade:
Entry @ Area of Interest 0.9815 -0.9835
SL @ 0.9879
TP 1 @ 0.9767 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 0.9707
Risk-to-Reward @ Approx. 2.00 (Depending on Entry Level)
________________________________
Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated!
If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies.
If you want something analyzed, do drop me a DM. :D
________________________________
Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks.
Any websites / brokers / applications suggested here are also provided as informational purpose only.
________________________________
SHORT EUR/CHF from .9825With EUR/CHF hitting the road block of the WR1 pivot and as this coincides with the high of April 7th, there's a high liklihood that this pair will head south.
The current H1 candle is BEARISH and this follows 3 H1 doji (indecision) candles.
As all these candles have formed bang on the WR1 pivot we can get a SHORT tarde on with the STOP just above the WR1 Pivot so this trade has a 15 pip risk with a 60+ pip reward.
The H1 RSI has been reading between 65 and 74 for the last 18 candles and is currently 66 so the RSI is declining suggesting the BULLISH momentum is turning.
MACD on H1 is now BEARISH and although the Andean Oscillator is yet to catch up on H1, on the 30M time frame the BEARISH signal has been confirmed (as it it on all lower time frames).
NIce R/R on this trade with the target being either the 200 EMA on H1 or the the WPP Pivot which sits just below.
EURCHF - Downside move ✅Hello traders!
‼️ This is my perspective on EURCHF.
Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I look for a short. I expect downside move after price filled the imbalance and rejected from bearish order block + institutional big figure 0.98000.
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EUR/CHF Harmonic Pattern Analysis: Anticipating Bearish Reversal___________________ Technical Analysis of EUR/CHF __________________________
Harmonic Pattern Analysis:
EUR/CHF has recently formed an XABCD harmonic pattern, indicating a potential reversal in the current trend. This pattern has manifested itself alongside the key resistance area, suggesting a significant level where bearish pressure may intensify.
Entry Strategy:
Considering the formation of the harmonic pattern and the positioning of the price at the key resistance area, it is advisable to initiate a short position near 0.98010. This entry point aligns with the anticipated bearish move from point D of the harmonic pattern.
Risk Management:
To effectively manage risk, a stop-loss order should be placed near 0.98370. This level is strategically chosen to mitigate potential losses in case of adverse price movements beyond our anticipated entry point.
Profit Targets:
Profit-taking objectives are set as follows:
- TP-1: 0.97650
- TP-2: 0.97295
- TP-3: 0.96918
These profit targets are based on technical analysis and aim to capitalize on potential downward price movements in EUR/CHF.
Conclusion:
In conclusion, the technical analysis of EUR/CHF suggests a bearish outlook, with the formation of a harmonic pattern and price action near a key resistance area. By adhering to the outlined entry, risk management, and profit-taking strategies, traders can position themselves to potentially capitalize on the anticipated bearish move in the currency pair.
#EURCHF is about to correct----------------EURCHF SHORT----------------
Although it seems like EURCHF currency pair had their first impulse leg to the upside on weekly timeframe I expect a correction from current zone on the daily timeframe. One more push to the upside it possible and after that we might see at least a pullback or a complex correction before it continues to the north. I consider entering market at these levels with a short trade but rather building a short position.
This is not financial advise by any means, do your own research and analysis before enter market!
EUR & CHF - The bad and the uglyWhat better way to start the new year than with a EURCHF long?
I am open to suggestions.
EUR view:
➡️ Inflation in the eurozone will rise slightly in early 2023 and climb towards the 3% mark🟢
➡️ In addition, however, it will fall more sharply in the following months than the ECB currently expects, forcing the ECB to cut interest rates earlier than planned🟢
➡️ My expectation here is March (at the earliest) or April 2024🟢
The CHF view explains why I still see the EURCHF strengthening in the short term:
➡️ The SNB will soon follow the ECB and also very likely make a 1st rate cut in the 1st half of 2024🟢
➡️ Although Swiss inflation will also briefly move back towards the 2% mark at the beginning of 2024, driven by rent increases and higher electricity prices, it will then also stabilise below the 2% mark again🟢
➡️ As soon as it returns from its skiing holiday in the Swiss Alps, the SNB will not be happy about the excessively high level of the CHF and will either tolerate a (slightly) weaker franc or even aim for it itself🟢
Conclusion:
The EURCHF therefore has room for a 200 - 300 pip upward move and will very likely tackle this in the new year, giving me a good start to the new year!:)
EURCHF - Long active ✅Hello traders!
‼️ This is my perspective on EURCHF.
Technical analysis: As we can see here price made a retracement as I expected in my last analysis, so now I expect bullish price action as price rejected from bullish order block + institutional big figure 0.97000.
Fundamental news: On Thursday we have monthly CPI on CHF, news with high impact on currency.
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eurchf bearish continuationAfter price cleared the buy-side liquidity,price reacted at a 1h ob to give a choch on 1h, This could be an indication of price changing direction,then we will wait for a proper break of structure before considering entering. kindly ENGAGE and SHARE your view if you think otherwise.