USDCNH weekly near term bottom to watchconfluence zone ~6.46 if we get there will watch PA for long opportunity
USDCNH trade ideas
USD/CNH year in review: O$6.9672 H$7.1965 L$6.4885 C <=>$6.5060USD/CNH year in review:
O $6.9672
H $7.1965
L $6.4885
C <=> $6.5060
Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny a day for a month it = $5,368,709. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
www.tradingview.com
USDCNH | Dec24 | Downtrend is ongoing, but...Lets make a LONG.
In this downtrend, bullish currently retesting the dynamic r/s.
Depend on how the the retest result., it could be cont a down trend or time of BULLISH ?
Value is with the Dollar."Price is what you pay, value is what you get" - warren Buffett
The Dollar is undervalued, the yuan is overvalued.
Peg them together.
Buy the United States Dollar, Sell the Chinese Yuan.
The Yuan Is The "One"Have you noticed the power and influence in the Chinese markets as of lately? They aren't done manipulating.
USD CNH BUY (US DOLLAR - CHINESE YUAN)Hi there. Price is forming a reversal pattern to change its direction.
These are the fundamental reasons for a possible USD/CNH bullish scenario:
Sentiment shifts:
Bullish scenario:
A breakdown in US stimulus talks and a possible towards a government shutdown; FDA rejecting or postponing the approval of the Pfizer vaccine; a breakdown in Brexit talks with no deal by EU summit.
In this scenario we would expect to see downside in equities across the board, with US equities expected to fall more if we see US stimulus talks break down and more downside for EU equities if we see Brexit talks collapse and upside in the dollar across the board.
Strong equity sell offs are usually accompanied with some support for the US dollar as the world’s reserve currency and with its safe haven status as well as Japanese yen and Swiss franc .
The Trend is Your Friend - USDCNHPlease don't forget to FOLLOW, LIKE, and COMMENT ...
If you like my analysis:)
Trade Safe - Trade Well
Regards,
Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc.
RISK DISCLAIMER
Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in Forex you should consider your knowledge, investment objectives, and your risk appetite. Only trade/invest with funds you can afford to lose.
USDCNH on a bear flag 🦐USDCNH after the break below the daily structure tested the 6.55000 area.
The price after a false breakout retested the resistance area inside a minor channel.
IF the market will break and close below the support structure we can set a nice short order according to Plancton's strategy.
--––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Leave a comment that is helpful or encouraging. Let's master the markets together
USDCNH looking bearishlooking at how it will react to the 61.8 fib area.
if it holds as resistance, we might see a further push to the downside to areas of 6.4800 after a break of the trendline to the downside.
