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Usdchfbuy

USDCHF, daily tf, buy on confluence of supportHello everyone, I hope you all enjoy your weekend. I am gonna share my trading plan for next week, if you find it useful please give this post a like and follow me for my next updates. The first pair i would like to trade for next week is USDCHF pairs. As you can see this pair has moved 200 pips to the downside for the first week of December. Friday candle showed that bears are now exhausted and we could pretty much see some retracement to the upside. It is now meeting an area of confluence support at 0.8900 area because there is so many supports stacked in this area which is why i think it is an area of confluence for support. If you're a fan of Elliott Wave and try to do a wave count, you might find this is also a level which could be a turning point. Because 0.8900-15 area is the place where 127.2 fibonacci retracement level located. Wave-5 usually end at this fibonacci level because if it continue to 161.8 level, it could be considered as an impulsive Third Wave. Buy USDCHF 0.8910 Stop loss 0.8870 Take profit 0.9030 (3R) RR Ratio 1 : 3 Use only 1-2% risk Good luck
Long
by HayatoDragonFX
USDCHF 100 Pips Swing trade Will it break 100,200 EMA resistanceUSDCHF ********* ⏳14 Hour chart 🎲 Swing trade ⛳️Bullish entry —————-❇️——————- Detailed analysis 💬 1️⃣ 0.90000 Swiss national bank intervention level 2️⃣ 0.90000 Strong trend reversal area 3️⃣ Positive risk sentiment, Vaccine news, Selling off CHF 4️⃣ RSI has reached around 39.00 Oversold condition 5️⃣ MACD about to cross the signal line, histogram is slowly fading towards green 6️⃣ Stochastic reached below 25 Oversold condition 7️⃣ Short term Technical support - Bullish 8️⃣ 50,100,200 EMA cluster resistance for bull 9️⃣ Bollinger bands reached lower side of the band 🔟 Possible swing target-0.91400 (23.6% Fibonacci) Point of control area #️⃣ Overall long-term trend- Bearish —————-⚜️——————- Bullish entry #usdchf Entry price -0.90400 Take profit 01 - 0.90900 (50 Pips) Take profit 02 - 0.91400 (100 Pips) 🚫 Stop lose 0.90050 ( 35 Pips) ⬆️ 1.11% Growth expected ⤴️ Account growth .39 : 1.11 ✅ Risk reward ratio 1 : 2.84 —————-⚜️——————-
Long
by forexorbit