Usdchfweekly
USD/CHF ON SUPER BULLISH MODE!USD/CHF looks very promising for the much higher prices on up-coming months according to Elliott Wave analysis. In my view we will break minimum as minimum 2016's high.
DISCLOSURE - Please be informed that the information I provide is not a trading recommendation or investment advice. All of my work is for educational purposes only. All labeling and wave count have been done by me manually and I will keep changing according to the LIVE MARKET PRICE ACTION. So don't bias, hope on my trade plans. Try to learn Elliott Wave or other strategies and make your own strategy. Following is not that much easy. I am not responsible for any losses if u took the trade according to my trade plans.
#USDCHF #usdchf #USD/CHF #usd/chf
USD/CHF BULLISH!!!! THE PRICE IS VERY BULLISH FROM MONTHLY TO DAILY
In monthly time frame the price is creating higher highs and higher lows.
In weekly the price is over extended. If the price is over extended we can expect a correction. Also if we take fibonacci from high to low we can see that the .5 level is in confluence with structure. We can definitely expect the price to make a correction at least to the .618. Also the price is in demand zone. There is many confluence that tell us that the price could make the correction.
In daily the price is in consolidation.
-----In weekly time frame we can expect the price to make a correction to at least to the .618 fibonacci level.-----
USDCHF approaching major support, prepare to buyBuy above 1.0033. Stop loss at 1.0000. Take profit at 1.0090.
Reason for the trading strategy (technicall y):
Price is approaching major support at 1.0033 (Fibonacci retracement, Fibonacci extension, horizontal support) where we expect to see a bounce towards at least 1.0090 resistance (Fibonacci retracement, horizontal pullback resistance).
RSI (34) is approaching our long term ascending support where we expect a bounce from.
USDCHF turn bullish with long term resistance brokenBuy above 0.9958. Stop loss at 0.9900. Take profit at 1.0044.
Reason for the trading strategy (technically):
Price has broken our long term descending resistance-turned-support line signalling a change in momentum to bullish. We turn bullish above 0.9958 support (Fibonacci retracement, horizontal overlap support, pullback support) for a push up to 1.0044 resistance (Fibonacci retracement, swing high resistance).
RSI (55) has made a bullish exit similar to the one seen in price and is also above ascending support.
USDCHF IN SHORT MOODThe pair in short trend as we will see it in broke resistance line
I see we will have around 200 p down during next week
