One to watch for a 3 Step Scalp MACD trade is USDCHF. We traded it nicely last nice from the short side and as you can see it came in more overnight. With the horrible wage growth reported from the U.S. the dollar could be in for some trouble throughout today. Don't be afraid to take a long scalp if the conditions present themselves, just be aware that sellers...
Confluences: 1/ with the recent formed downtrend 2/ Broke TL + retest 3/ Tested the 130.000 weekly resistance 4/ Bounced of the 50% fib. 5/ high test, followed by inside bar set up, followed by another high test 6/ 50 & 60 EMA's bounce
The pair has broken out its range + channel. Confluences: 1/ Downtrend 2/ Retest of 0.71 ( support turned into resistance ) 3/ Retest of the broken channel 4/ Long legged doji, can also be looked at as a high test
AS THE GBP CONTINUES ITS BULLISH MOMENTUM ACROSS THE BOARD IT COULD PROVIDE A NICE LONG OPPORTUNITY ON THIS PAIR. WE HAVE MADE 2 HIGHER LOWS AND RECENTLY SNEAKED IN A HIGHER HIGH. ALTHOUGH WE WASNT ABLE TO GET A CLEAN BREAK ABOVE THAT RESISTANCE IT COULD BE A GOOD SIGN OF THINGS TO COME. I AM NOW MONITORING P.A CLOSELY FOR A LONG SETUP. I HAVE HIGHLIGHTED THE...
As Swiss franc is exposed to events in Europe (high correlation to EUR) plus negative interest rate that will likely increase, ie becoming more expensive to store funds in CHF, Swiss banks will likely become less and less of a safe haven as other currencies become more attractive or even perhaps Gold. Also, don't forget with new tax and bank secrecy laws,...
EUR/CHF - H4 Chart - Gartley Pattern Here on the H4 chart of EUR/CHF we have a nice Gartley Pattern setup. With a deep D leg completion giving us nice risk reward and a strong reversal zone. We must see a completion at D leg before any long entry is triggered. - SL must go below X - Target 1 at 38.2% retracement - Target 2 at 61.8% retracement Good luck.
After rising relentlessly for 5 consecutive days, Dollar bulls faced stiff resistance today. The negative divergence in RSI has been indicative of an impending short term reversal which would push the prices back into the channel and this materialized today. Now the price is sitting on the lower boundary of the channel and a strong support zone. If the bulls...
In the last 2 months it was a real rollercoaster for USDCHF. The volatility is a sign of the very important breakpoint with serious monetary consequences. I bet US dollar will "win this currency war" and drop significantly from here, letting USDCHF to reach 0.70 again in coming years.
Back in July 2014, price broke out of a falling wedge pattern, found resistance at the 1.000 level and following the unpegging of the Swiss Franc, retested the backside of the wedge this January. Since this event market sentiment on the dollar has been incredibly bullish, pushing price through the parity resistance within the last week. It has since been failing...
I am a firm believer stock markets are patterned in shape ( Elliot wave ) and cyclical ( Martin Armstrong works ). Because labeling waves is subject to human nature, using the Elliot wave principle to trade is tricky at best. Nevertheless, sometime when you see a pattern you just have to accept what is in front of your eyes and right now the SUI30 appears to be...
First target is hit (Thanks Swiss National Bank). We will move stops up to just under our entry. The trade is at no risk and now we will sit on our hands and see how far she can go, As we mentioned this is a weekly setup so we expect a good size move. However, what we saw from the Swiss last night can be a game changer. USE STOPS AND DON'T BE A HERO. You...
Remember the Swiss National bank is committed to defending the currency at 1.20 with "determination". It may possible they are actively intervening at this point. 1.20 is the floor so buying now offer a great risk/reward opportunity. Unlikely to come again for a while. On the technical side, each lower platau of the 20 day MA is met with a higher and price...
Gold (01.12.2014) reverse from $1207 mark which we mention as first resistance for bulls. However fall from mention level should taken as correction or profit booking but swiss gold referendum added more fuel & created panic selling. Now gold is trading around $1275 & we have witness a sharp bounce from recent low $1142 made just after a NO answer from swiss gold...
Price on AUDCHF has been in a tight range since July 4, which I'm interpreting as an accumulation pattern -- i.e. buyers stepping in and quietly building their position. Just below this accumulation zone, which happens to coincide with a 50% Fibonacci retracement from the recent swing low to swing high, are the 50 SMA and 200 EMA. As such, I think there are enough...
1. moving averages are 20,50,100,200 and the 200 period MA is above all, 100, is above all except 200. 50 period MA is higher than 20 period Moving Average. Along with Lower Lows and Lower Highs in a downtrend this says the pair -EUR/CHF has been in a down trend. 2. Stochastics are oversold and losing momentum. IF you like my stuff please follow, like, share it,...