I am using support and resistance as a basis for my trading. USDCHF seems to be moving upwards based on the chart and trend line, and as such I have already taken a position in the long side of the market. As a result of this trade, all the liquidty is swept up and the market moves upwards
USDCHF 4 Hour Analysis (8 June 2023)
1. price just broke the triangle,
but it may retest
2. Retest level is set according to the
previous patterns
3. also, if price again comes under triangle,
we have to wait for entry.
the market is going in a nice uptrend looks like a buy situation but in the higher timeframe its a pull back move in day or weekly so lets wait for the structure formation in smaller timeframes to enter in the trade that we want to enter
for educational purposes only not a financial advise
USDCHF fades upside momentum, after witnessing a three-week uptrend. With this, the Swiss currency pair portrays a rising wedge bearish chart formation on the four-hour chart. That said, RSI (14) line appears steady near the 50.0 level, suggesting no harm to the latest consolidation in prices. However, the bearish MACD signals suggest that the bears are gradually...
looks like a good sell idea in 4h time frame already broken the support level and gave a pull back let monday the market opens and will see how it plays if it shows entry signs will go throug the trade
After a strong downmove, the trend can reverse after forming double bottom reversal pattern with a good bullish divergence
We will take the entry after breaking the trendline
