Bull flag? Daily resistance #1 becomes the service.
http://img80.imageshack.us/img80/6366/bullflag1pm8.gif
Bull flag? Daily resistance #1 becomes the service.
http://img80.imageshack.us/img80/6366/bullflag1pm8.gif
Monthly Chart reveals Blue light special sign for buy at 1.5240. Breakout 1.5240 level we go to up-trend!
Not much discussion happening with this pair so that I'll try to bring it back to life, I have been watching the pair for a month now and it has put some trades within the previous couple of days. So with this said I will be shorting Eur/Chf at 1.6570.
Cheers.
1.6550-70 has been demoned to be big resistance, with this supported I entered a brief position at current rates with stop just above 1.6500. First goal is 1.6360.
Let us watch and place where direction the triangle will be broken. There is heavy resistance at 1.6540-1.6560, and powerful support at the 1.6480 level.
Let us see what happens.
Buy around this levels and put stop/loss below 1.6080. The pair was moving 400pip average from breakout levels. There is a good chance that this long will take us around 1.7080
Hopefully we can break through the highs here, when the weekly candle closes above the 1.6800 the pair's next goal would be 1.7000 for the upcoming few days.
Trendline service comes in at 1.6330 and if it holds there could be a bounce to 1.6800-6900 by mid December.
that I have opted to quit trading against the dollar since I am in the States. I've taken a liking for this pair and though it moves slowly with a spread, I like the pair. Its a tacticians dream. Here is divergence using MACD about the daily which forcasted the drop.
You can also see from this chart that MACD about the dailys is slowly moving higher.
On the weekly the trendline must be traded with here. I am looking for a bounce back up. I am investing in a live mini account using all longs and together with a grid. 15 pip spread within the grid. I figure out what to do based on drawdown if the pair moves against me. Either keep peeling off the trade or close all during a bounce at the breakeven to preserve margin. When the very best trade trade was 100 pips down but my equity was still favorable from where I started due to price jumps back and forth inside the grid.
Not for everybody and dull but I like it. Its not foolproof and you need to decide what to do on a run but you've got options. The pair has been in a bull run so I am trading with the trend. Peeling off or hedging are options. https://www.forexforum.co.za/attachm...1495641568.pdf
https://www.forexforum.co.za/attachm...4738445933.pdf