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Usdchftrade

USDCHF approaching major resistance, prepare to sellSell below 0.9881. Stop loss at 0.9948. Take profit at 0.9738. Reason for the trading strategy (technically): Price is testing channel resistance and major resistance at 0.9881 (Fibonacci retracement, horizontal overlap resistance, channel resistance) and we expect to see a strong reaction from this level to push price down to at least 0.9738 support (Fibonacci retracement, horizontal swing low support, price gap). Stochastic (34,3,1) is seeing major resistance at 97% where we expect a corresponding drop from.
Short
by MEX_Exchange
USDCHF profit target reached perfectly, remain bearish Sell below 0.9787. Stop loss at 0.9836. Take profit at 0.9671. Reason for the trading strategy (technically): Price has dropped perfectly and reached our profit target. We look to sell on the break of strong support at 0.9787 for a further push down to at least 0.9671 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support). Stochastic (34,3,1) is telling us that we’ll likely see a bounce any further sideways price action before a drop to confirm our bearish move.
Short
by MEX_Exchange
2
USDCHF reversing below our stop loss resistance, remain bearish Sell below 0.9874. Stop loss at 0.9896. Take profit at 0.9786. Reason for the trading strategy (technically): Price has reversed nicely below our stop loss yesterday. We look to remain bearish below 0.9874 resistance (Fibonacci retracement, horizontal overlap resistance, bearish divergence) for a further push down to at least 0.9786 support (Fibonacci extension, horizontal swing low support). Stochastic (34,3,1) has good downside potential for our remaining drop.
Short
by MEX_Exchange
5
USDCHF testing our selling area and remains bearishSell below 0.9842. Stop loss at 0.9884. Take profit at 0.9733. Reason for the trading strategy (technically): Price has made a pullback to our selling area exactly as expected and is now testing our selling area. We remain bearish looking to sell on strength below major resistance at 0.9842 (Fibonacci retracement, horizontal overlap resistance, breakout pullback, bearish divergence) for a further push down to at least 0.9733 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support). Stochastic (21,3,1) is dropping nicely from our resistance and has also formed bearish divergence vs price signalling that a reversal is impending.
Short
by MEX_Exchange
1
USDCHF right on selling area, time to go short Sell below 0.9842. Stop loss at 0.9884. Take profit at 0.9733. Reason for the trading strategy (technically): Price has made a pullback to our selling area exactly as expected. We remain bearish looking to sell on strength below major resistance at 0.9842 (Fibonacci retracement, horizontal overlap resistance, breakout pullback) for a further push down to at least 0.9733 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support). Stochastic (21,3,1) is approaching our major resistance level of 97% where we expect a corresponding reaction from.
Short
by MEX_Exchange
USDCHF rising as expected to resistance, prepare to sell Sell below 0.9842. Stop loss at 0.9884. Take profit at 0.9733. Reason for the trading strategy (technically): Price has started to bounce nicely as expected towards our breakout area of resistance. We remain bearish looking to sell on strength below major resistance at 0.9842 (Fibonacci retracement, horizontal overlap resistance, breakout pullback) for a further push down to at least 0.9733 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support). Stochastic (21,3,1) is approaching our major resistance level of 97% where we expect a corresponding reaction from.
Short
by MEX_Exchange
USDCHF dropping perfectly towards our profit target,bearishSell below 0.9935. Stop loss at 0.9990. Take profit at 0.9847. Reason for the trading strategy (technically): Price has started to drop really nicely towards our profit target. We look to remain bearish and sell on strength below 0.9935 resistance (Multiple Fibonacci retracement, pullback resistance) for a strong push down to at least 0.9847 support (head and shoulders exit potential, swing low support, Fibonacci extension). Stochastic (34,3,1) is seeing major resistance below 96% and also intermediate resistance at 77% where a further drop is expected.
Short
by MEX_Exchange
USDCHF approaching major support, prepare to buy for a bounceBuy above 0.9493. Stop loss at 0.9451. Take profit at 0.9566. Reason for the trading strategy (technically): Price is now testing major support at 0.9493 (Fibonacci retracement, horizontal overlap support) and we expect to see a bounce above this level to at least 0.9566 resistance (Fibonacci retracement. Stochastic (34,5,3) is fast approaching 6.4% where we expect a bounce from that corresponds to price too. Correlation analysis: USDCHF and EURUSD are negatively correlated. So it is nice to see a bounce on USDCHF and a correlated drop on EURUSD.
Long
by MEX_Exchange
USDCHF profit target reached perfectly, prepare to sellSell below 0.9530. Stop loss at 0.9563. Take profit at 0.9436. Reason for the trading strategy (technically): Price has shot up perfectly and reached our profit target from yesterday. We prepare to sell below major resistance at 0.9530 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance) for a push down to at least 0.9436 support (Fibonacci extension, horizontal swing low support). Stochastic (55,5,3) is right on major resistance at 95%.
Short
by MEX_Exchange
USDCHF testing major support, remain bullish Buy above 0.9527. Stop loss at 0.9500. Take profit at 0.9593. Reason for the trading strategy (technically): Price has dropped strongly after making the bearish channel exit. We prepare to buy above strong support at 0.9527 (Fibonacci extension, bullish price action, channel exit potential) for a push up to at least 0.9593 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (34,5,3) is seeing strong support above 3.6% where we expect a further bounce from. Correlation analysis: EURUSD and USDCHF are negatively correlated, meaning they move in opposite directions. It’s good to see a drop on EURUSD and a corresponding bounce in USDCHF.
Long
by MEX_Exchange