USDCNH trade ideas
USD CNH 1hr Potential SellPrice is ranging (trending between a support and resistance). Price is currently at the resistance of the range and has shown signs of rejections hence we are expecting the price to surge bearish as it has consistently done previously. The risk to reward ratio is 1:2.5
All credits are given to CLIFFON PRYCE.
3 White Soldiers ABCD ContinuationWe have a 3 white soldiers pattern that has been retraced 50 percent of the way, if we see a reversal here then i expect another big wave up.
This is a continuation trade that can lead to a much bigger move up later on, checkout the related idea for the bigger bullish target.
USDCNH OANDA🌟this pair is traded for a long term situation with a high R/R value (the R/R stays the same)
🌟in this ascending channel you can see the reversed H&S formation (or the 3 buddha or 3 rivers in Japanese trading) which is an indicator for a bullish bias and its marked with faint yellow highlight
🌟you can observe a blood waterfall (marked with red highlight) which is abnormal in the market and distracts the EMA statistics and for balancing this situation a green mountain needs to recover this bleed of the market from the top to the bottom of the channel (both waterfall and mountain phrases are visionary and not official formats)
🌟this position has a 3510 pips rewards aside a high cost stop loss so manage your leverage properly
Risk warning, disclaimer: all of the following signals/ideas are subjective and based on market judgement of our team's technical and fundamental analysis , we hope traders consider this and always check it with your own strategy, if you don't have any we can help you form one
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Cataclysms are brewing in the global stock markets. China.All because of the situation with one of the largest developers in China - China Evergrande Group, which found itself on the verge of default (debt size ~ $ 300 billion).
The possible bankruptcy of the company will hurt not only the Chinese economy (remember Lehman Brothers).
Deposits in Chinese banks are about to $35 trillion, which is twice the size of the United States. Chinese financial crisis will lead to unforeseen circumstances and will affect all world markets.
Industrial production has negative rates in China. Now it is near the lowest level since the global financial crisis.
The devaluation of the yuan seems inevitable.
Best regards EXCAVO
Significant CorrelationThe strength of the Chinese Yuan and equity markets appears to be correlated due to the Chinese's increased trade presence and credit expansion. If price action continues to push below the 200 day EMA we could be likely looking at a bear market.
Could the dollar milkshake theory prove to be correct?
Only time will tell. (Dramatic music engage)
USDCNH CRITICAL NEWS ALERT Tomorrow morning the USD will see massive movement off job numbers dropping. Personally I am short on USD. Long on GBP and CAD against USD. CNH has seen 200 ema cross over 50 ema so we will see the movement down. Price has also came to retracement on 4hr time period. BIG Ws. Stay tuned will be updating tmr when news drop 8:30am EST New York session
USDCNH top-down analysis Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
USDCNH | Perspective for the new week | Follow-up detailsEven though we held on to a 400pips move in our direction since my last publication on this pair; a sudden breakdown of Channel and Trendline coupled with the appearance of a Head & Shoulder pattern (see previous publication in the link below for reference purposes) insinuates a bearish momentum is imminent.
Further consolidation amidst a mixed outlook remains the perspective of the market in the last couple of months and the momentum garnered by the buyers (correction phase) appears to be thinning out as the successful breakdown of Bullish Trendline insinuates a risk of further decline for the Greenback in the coming week(s).
Tendency: Downtrend (Bearish)
Structure: Breakdown | Trendline | Reversal pattern (Head & Shoulder/61.8% retracement)
Observation: i. The Bearish Impulse which started in April 2021 went through a correction phase in the last 3 months to culminate @ CNY6.5300 area - an area that coincides with a 61.8% retracement of AB Leg.
ii. The appearance of a baseline with three peaks, where the outside two are close in height and the middle is highest reveals a Head & Shoulders pattern describing a formation that predicts a bullish-to-bearish trend reversal.
iii. During the course of last week trading session, we witnessed a significant rejection of CNY6.51000 level (2nd Head) which led to a confluence characterized by a breakdown of both Trendline and Key level @ CNY6.48500 hereby inciting a Bearish potential for me.
iv. In as much as I am comfortable taking a sell position anywhere below my Key level, the degree of accuracy to this bias is expected to be confirmed once the price breaks down the Neckline @ CNY6.45000.
v. A further breakdown of the Neckline might transpose into a Harmonic pattern (AB = CD) with extensions of CD leg aiming at CNY6.28000 area (127.2%) and a window to add to our existing position at Breakdown/Retest of CNY6.42000... Trade consciously!😊
Trading plan: SELL confirmation with a minimum potential profit of 750 pips.
Risk/Reward : 1:6
Potential Duration: 7 to 14days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
ridethepig | CNH Market Commentary 22.08.2021Buyers position marks (5) as a soft and temporary floor.
Other events can cause the base to appear a lot stronger than it does, so the transfer of the attack from one direction to the other can be subtle, although not a matter of pure chance.
It has been a relatively straight forward flow, but one that has not seen much light thrown on the subject thanks to noisy explanations. As can be seen in the charts below, @ridethepig was concerned at the highs.
The said possibility of a temporary floor is much rather a natural profit taking move in the struggle against sentiment. A considered judgement about the perverse signally from PBOC and Xi ought to look something like; base at 6.35xx is strong support (after the powerful legs lower it is very sensitive). That is the real truth, we are inside a multi-year decline that could go a lot. lot lower, for now, we shall have to content ourselves with limiting adding short positions till we are back above (4) highs at 6.587x for another test of the lows in our current range (6.58x - 6.40x).
USDCNH Facing bullish pressure | 25 Aug 2021USDCNH reacting above ascending trendline support. With price breaking above moving average, we see a possibility of a further push up above our entry at 6.47452 towards graphical overlap resistance at 61.8% Fibonacci retracement and our take profit at 6.49267
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USDCNH-Expecting 3 wave structure and now we are in C wave of 2)Market Commentary:
LEARNING ELLIOTT WAVES IS LITTLE BIT TOUGH (FOR ME IN BEGINNING) BUT I TOOK IT AS A CHALLENGE AND THAT IS NOT IMPOSSIBLE ALSO...
First have an look for the positional trend i shared here previous....if you are a follower of me...and sometimes i will share the counter trend trade also in 15 mins and 1hr...but that is risky ones...so if the trend is bearish or bullish, if i am expecting the correction...book the profit there and wait the correction to end and again go with the trend....DONT TRADE THE COUNTER TRADE SETUP...you will took loss too...try to identify the short term pull back and the long term pull back after that took small lots in the short term PB with strict stop and go with big lots in the trend side that is long term. I WONT TOOK ALL THE TRADE PLAN SHARED HERE...
Read the market commentary inside the chart what i shared here carefully and try to learn Elliott waves...otherwise its tough to understand the market commentary and my analysis. I wont give a entry, stop loss and take profit in my chart...it is only for EDUCATIONAL PURPOSE and i am sharing how i am analysing the pair and labelling them according to the Elliott wave theory...I AM JUST SHOWING THE TREND HOW IT MAY GO AND MY VIEW(it may wrong too)..so DON'T FOLLOW BLINDLY MY CHART. Take this as a reference and if it correlate to you strategy took the trade as per your strategy...DON'T ASK ABOUT YOUR RUNNING TRADES i wont comment on them and I WONT SUGGEST TO TAKE MY TRADE SETUP.
I am a technical analyst based on trendline, channel, fib retracements, expansion, stochastic for divergence, EMA's and MA's are finding the pull backs and MAJOR IS ELLIOTT WAVES...those mentioned above are using as a TOOLS only. I am not a fundamental, sentimental trader...but only the fundamental will boost my technical analysis to reach my target or sometimes it will go against me and then i will manage the trade according to the Elliott waves alternate views...Each and every trade plan i am sharing here has a alternate view and i am sharing only the most probabilities(70-80%) here...sometimes the other (20-30%) may market do..then i will change the wave counts and labelling according to the price action.
All labelling and wave counts done by me by manually and i will keep change according to the LIVE MARKET PRICE ACTION. So dont bias, hope on my trade plans...try to learn and make your own strategy...Following is not that much easy...I AM NOT RESPONSIBLE FOR ANY LOSSES IF U TOOK THE TRADE ACCORDING TO MY TRADE PLANS....THANKS LOT..CHEERS
JICPT| USDCNH rising with small wall to break! Hello everyone. No need to mention the impact of the recent weak China data. We already saw the fall of its domestic stock markets, HK stock market, crude oil and commodity currencies, e.g. AUD.
On the weekly chart of USDCNH, if formed a nice bullish structure with trouble zone around 6.57.
On the daily timeframe, the bullish flag formation plus the neck retest are really odds-enhancer. Targets are 6.52 followed by 6.57 aligned with the weekly chart.
Give me a like if you're with me.