A bullish engulfing pattern is visible on the USDCHF chart which indicate that the price will potentially go up in coming hours.
Buy above 1.0000. Stop loss at 0.9946. Take profit at 1.0100. Reason for the trading strategy (technically): Price has dropped perfectly and reached our profit target as expected. We prepare to buy above 1.0000 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to 1.0100 resistance (Fibonacci extension, horizontal...
Sell below 1.0100. Stoop loss at 1.0160. Take profit at 1.0000. Reason for the trading strategy (technically): Price is now testing major resistance at 1.0100 (Fibonacci extension, horizontal swing high resistance) and we expect a drop from this level to at least 1.0000 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing...
Sell below 1.0068. Stop loss at 1.0114. Take profit at 0.9973. Reason for the trading strategy (technically): We continue to remain bearish below 1.0068 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) as we look to play the drop towards 0.9973 support (Fibonacci retracement, Fibonacci extension). Stochastic (34,5,3) is...
Sell below 0.9991. Stop loss at 1.0040. Take profit at 0.9923. Reason for the trading strategy (technically): Price is testing major resistance at 0.9991 (Fibonacci retracement, horizontal overlap resistance, bearish divergence) where we expect a reaction from for price to drop to at least the 0.9923 support (Fibonacci retracement, short term horizontal overlap...
Buy above 1.0063. Stop loss at 1.0037. Take profit at 1.0137. Reason for the trading strategy (technically): Price has dropped nicely towards our profit target from previously. We now take our profits and look to buy instead above 1.0063 support (Fibonacci retracement, horizontal swing low support) for a push up to 1.0137 resistance (Fibonacci extension,...
Sell below 1.0137. Stop loss at 1.0168. Take profit at 1.0063. Reason for the trading strategy (technically): We prepare to turn bearish below 1.0137 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance) for a further push down to 1.0063 support (Fibonacci retracement, recent swing low support). Stochastic (34,5,3) is seeing...
Sell below 1.0090. Stop loss at 1.0118. Take profit at 1.0033. Reason for the trading strategy (technically): We remain bearish below 1.0090 resistance (Fibonacci retracement, horizontal pullback resistance) where we expect a reaction from for a drop to 1.0033 support (Fibonacci retracement, horizontal support). Stochastic (21) is seeing strong resistance at the...
Sell below 1.0090. Stop loss at 1.0118. Take profit at 1.0033. Reason for the trading strategy (technically): Price has reached our buying area, bounced perfectly and reached our profit target from Friday. We now turn bearish below 1.0090 resistance (Fibonacci retracement, horizontal pullback resistance) where we expect a reaction from for a drop to 1.0033...
Nice ABCD projection and swing high resistance being tested. Hopefully we can see a drop from here. We keep our stop loss small as if it breaks 1.0125 stop loss then well, all is loss :P
Sell below 1.0030. Stop loss at 1.0071. Take profit at 0.9961. Reason for the trading strategy (technically): Price shot up and reached our profit target perfectly. We now prepare to turn bearish below 1.0030 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) for a push down to 0.9961 support (Fibonacci retracement, recent...
Buy above 0.9959. Stop loss at 0.9898. Take profit at 1.0030. Reason for the trading strategy (technically): We prepare to turn bullish above major support at 0.9959 (Fibonacci retracement, horizontal overlap support) for a push up to 1.0030 resistance (Fibonacci retracement, horizontal pullback resistance). RSI (34) is seeing strong support above the 23% level.
Sell below 1.0036. Stop loss at 1.0097. Take profit at 0.9935. Reason for the trading strategy (technically): We remain turn bearish below 1.0036 resistance (Fibonacci retracement, swing high resistance) for a push down to 0.9935 (Fibonacci retracement, swing low support). RSI (34) is seeing resistance below the 66% level and now displays bearish divergence vs...
Sell below 1.0036. Stop loss at 1.0097. Take profit at 0.9935. Reason for the trading strategy (technically): Price has reached our profit target from previously. We now turn bearish below 1.0036 resistance (Fibonacci retracement, swing high resistance) for a push down to 0.9935 (Fibonacci retracement, swing low support). RSI (34) is seeing resistance below the...
Buy above 0.9958. Stop loss at 0.9900. Take profit at 1.0044. Reason for the trading strategy (technically): Price has broken our long term descending resistance-turned-support line signalling a change in momentum to bullish. It has also made a very nice pullback and recently displayed a bounce above this descending support line. We turn bullish above 0.9958...