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Rangingmarket

USD/CHF - Potential Double Bottom Reversal PatternHello Traders!, It seems that the USD may begin to gain back some strength, lets see how the currency plays out until the end of the week! What Is The Market Telling Us? Price has been consoldiating with a 40 pip range between 0.9608 and 0.9648 Market may be looking for BUY orders with having 2 bearish FAKEOUTS to trigger it Bulls have been battling the bears to keep price above the 0.9608 support level Potential double bottom has occured, indicating possible reversal of previous downtrend When Should We Enter? We can enter on the next clear bullish candle that appears above right above the support level This pair is still in a downtrend, so keep your SL tight just incase bearish volatility does come in RISK MANAGEMENT IS KEY!!
Long
by forexwithfred
GBP/JPY SHORT 4H The market is currently ranging. The price has tested the resistance a number of times (a strong resistance). Plan A - What I will be looking for once London opens is whether the price the hit the resistance and give a breakout (by ensuring candlestick closing upon the resistance) and making my entry setting TP at 134.910. SL will be the below the previous candle of the breakout. Plan B- If the price hit the resistance and continues to go bearish past the trend line, I would enter the market after candle confirmation. TP would be at 130.807 Feel free to give your feedback. Thank you.
by Govv510
USDCHF - Falling towards Support - Indicators are confirmingHi Traders! As you can see, the price is in a Ranging Market. The last swing was the Up-Movement towards the Resistance at 0.97800. The market is, since then, moving downwards. As you can see in the chart, the market is moving in a wedge. A wedge occurs when a trendline is coming from a above and another from the downside. The idea is to trade the Breakout of the wedge. Our target is the Support of the Ranging Market on the Daily Timeframe. Some of the technical Indicators show also bearish pressure: The Parabolic SAR It just made the third bearish dot. If the market is moving under the dots of the Parabolic, this mostly means that the Sellers are in control. The MACD Crossover As you can see, the MAs of the MACD-Indicator just crossed Bearish. That's by the way also the reason, why the bar is red now. The SL is above the last (tiny) Resistance. Our RTR-ratio is 1 to 2.02. We recommend to trade the Breakout with a confirmation. Thanks and successful Trading :)!
Short
by swissmoneymakers
GBPUSD - Another Bouce or Breakout - What do you think?Hi Traders! As you can see the market is in a ranging condition. The first major movement you can see in the chart is the strong bearish downmovement. This downmovement started at the top of 1.32000. It ended up at the Support at 1.14500. After that the market retraced. This Retracement move was until the 61.8% of the Fibonacci Retracement tool. Later the price was moving between these Levels: Resistance at 1.26000 and Support at 1.22000. It is still between these two Levels. As you can see the market made until now two Tops and two Bottoms. The market is now at the Bottom Side and this two opportunities can appear: The market bounces off from the Support to make another Top. Then we would buy the break of the Parallel Channel and the Target would be the Resistance. The market breaks out of the Support. We would buy the break of the Support and the Target would be the Support Area (orange box). We recommend to wait for a confirmation. Thanks and successful Trading :)!
by swissmoneymakers
EURUSD - Preparation for a Range-MarketHi Traders! As you can see the market is in a downtrend. In the beginning the market was in a strong upmovement. Then it turned back and then it was moving in a strong downtrend. This means, that the bulls and bears are both as strong as the others. In addition, the market has no more strength to move further. That's why we expect that the market will move in a range. We recommend to prepare for a ranging market. Thanks and good luck :)!
by swissmoneymakers