Community
Blog

Community Blog

Add post
Filtered by tags:  Price Channel
Avatar

USD/CHF, short after break channel

Cules Posted 6 July  in #Trader's blog #Price Channel
Dear you guys,
Price is in channel with supply zone of 0.997. I refer to short with this pair because the ending of waves.
We can wait price to break the channel and short.
Trade with care.
Good luck !
Read full story
Translate to English Show original

Since you are not logged in, we don't know your spoken language, but assume it is English
Please, sign in or choose another language to translate from the list.

– or –

Leave a comment
orto leave comments
Avatar

USD/JPY to rise slowly

al_dcdemo Posted 28 Feb. as Analysis on USD/JPY, Target: 121.0900, Date: 1st of April, 12:00 GMT  in #Technical analysis #Yen #USD/JPY #Rally #Correction #Range #Resistance Zone #Pause #Slower Pace #Price Channel
Monthly chart:
The pair appears to be making a bit of a pause in a rally towards strong resistance zone, which consists of:
1. Trendline that contained the long-term downtrend in years 1986, 1990, 1998.
2. 23.6% retracement of the November 1982 to October 2011 decline.
3. 2007 high at 124.14.
On the downside, the first major support is 200 month SMA and then 105 level.
Weekly chart:
After 600+ pip correction in December 2014, the pair has been consolidating in 115.50 - 121.85 range, though most…
Read full story
Translate to English Show original

Since you are not logged in, we don't know your spoken language, but assume it is English
Please, sign in or choose another language to translate from the list.

– or –

6 Comments
View 1 more comments
al_dcdemo avatar
al_dcdemo 15 Mar.

UPDATE 2: Monday was the day when the pair moved the most. It managed to break above December 2014 cycle high at 121.84, but was rejected and 100 pip pullback ensued. It went sideways from there with another attempt to break lower on Thursday, before settling mid-range to end the week. Where it will go from here will depend mostly on next week's FOMC meeting, but the most likely direction is still up.

al_dcdemo avatar
al_dcdemo 21 Mar.

UPDATE 3: The pair started the week in a very tight (less than 50 pip) range and then exploded lower on Wednesday, but the daily range was the smallest among major pairs. In subsequent action, the pair retested pre-FOMC range and then declined 130 pips to close the week just above 120 level. 50 DMA at 119.32 and 100 DMA at 119.18 will act as first strong support levels, should the pair continue to slide.

al_dcdemo avatar
al_dcdemo 28 Mar.

UPDATE 4: Price action in the pair was mostly sideways, with exception of Thursday when it took out stops below 100 DMA but then quickly snapped back to slowly declining range. However, it closed the week below both 50 and 100 DMA, which is strong bearish signal. With month-end, quarter-end (plus fiscal-year-end in Japan) and Good Friday holiday next week, we could be in for some volatile moves on lower liquidity.

foreignexchange avatar
foreignexchange 1 Apr.

Good job

al_dcdemo avatar
al_dcdemo 1 Apr.

Thanks! It's 90 pips from the target at the moment, which is fairly good.

orto leave comments

Top bloggers

Blogger Posts / Likes

Top rated posts