Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.892). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDCHF is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
....
Description:
The counter USDCHF started moving in an ascending triangle.A support trend line tested at the prices 0.88391,0.88682 and 0.88357 and the flat-top resistance line at the price 0.89256. The price is moving near the top line of the triangle and since then there is no indication for a breakout. Buying pressure of the market may pull the price even more...
On attendait ici une confirmation du rejet de la trendline en cassant le petit range. On a maintenant une confirmation de la cassure.
On a 2 targets différentes, on prendra des bénéfices aux deux. Pour le SL je souhaitais mettre encore plus serré mais compte tenu du ratio R:R je peux me permettre d'être plus secure.
Bon trade !
Price is respecting the daily Support
and Trend is reversing with a pretty trend reversal pattern i.e, Inverted Head and Shoulder Pattern FX:USDCHF
Most Probable Path is A
We can see an inverse head and shoulder pattern formed. The interesting part, it is consolidating near right shoulder which is a good sign for a breakout after a build up.
Simple things aren't so Simple
Cheers.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.8857). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDCHF is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
....
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.8885). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDCHF is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
....
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.883). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDCHF is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance....
