Head and shoulders formation on 1hr chart now at the neckline. Furthermore, recent rejection at the resistance level @ 1.349 giving further confirmation.
SHORT ENTRY @ 1.3484
SL @ 1.352
TP @ 1.3414
RR @ 2
Pair has found a support level @ 1.402. There seems to have been a recent rejection off this support level on the 30m graph. Along with the appearance of higher highs, I see a relatively short term gain of between 40-60 pips.
LONG ENTRY @ 1.4028
SL @ 1.399
TP @ 1.408
RR @ 2.29
The upward trend of the Elliott Wave Theory has finished, therefore I anticipate that the correction (part A) will now begin over the next few days hence this is a long term trade with a slightly larger SL but still the same Risk Return ratio. As this is a long term trade I have used a smaller lot size. Once again, it seems the case that this pair is overbought on...
(2hr) Looks as if there is a reversal inbound and we could be seeing this pair testing the support level @ 130.05. RSI looks to be overbought and has recently sharply turned heading downwards. Most recent candle seems to be bear engulfing, therefore sellers seem to be gaining some momentum.
SHORT ENTRY @ 131.211
SL @ 131.6
TP @ 130.4
RR @ 2.07
(60m) USDCHF trading in a consolidated upward channel which seems to be approaching its top having been tested 3 times in recent history. I expect the pair to respect this resistance level with no major fundamentals being announced until tomorrow. RSI also seems to be overbought implying a mild correction could be imminent.
SHORT ENTRY @ 0.9617
SL @ 0.9645
TP @...
Recent Double Bottom @ 0.765 followed up by bullish sentiment on 30m graph. In addition to this. RSI looks to be crossing the 50 mark aggressively, hence proving the dollar count be set to weaken over the next few days.
LONG ENTRY @ 0.7684
SL @ 0.7657
TP @ 0.7735
RR @ 2.02
Clear Head and Shoulders formation on 4hr chart - recent break of the neckline shows there there could be a significant downside. Recent dollar weakness and uncertainty in the US economy gave me the fundamental confirmation.
SHORT ENTRY @ 1.2827
SL @ 1.2875
TP @ 1.2722
RR @ 2.04
(60m) Once again there seems to be a rejection off a strong support level @ 1.2265 with a bullish engulfing candle. I am looking to make the most of a sharp short term bullish movement. RSI looks to have crossed 50 implying a buying opportunity.
LONG ENTRY @ 1.2287
SL @ 1.2257
TP @ 1.2347
Looking at the 4hr chart we can see this currency pair has previously respected a support level @ 0.8715 in recent weeks and has once again retraced off it. Furthermore, the RSI shows that EUR has been oversold (@ 31.2) in relation to GBP, implying we could see a rally over the next few days.
LONG ENTRY @ 0.8725
SL @ 0.869
TP @ 0.8795
RR @ 2
For my first piece of analysis I see a potential short forming on the 60m chart for GBPCHF 0.08% . There has been a double top at a key structural resistance level. The last candle has closed bearish showing us confirmation this looks a good entry point! I usually aim for a Risk:Reward ratio of between 2:1 - 2.5:1 so for this trade I have set the following...
