Think possible bounce at 9720-9800 aiming for 1.010 area
ex nihilo
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Price close above 3x3 SMA then closed below it and then again closed above 3x3 SMA (blue line). It seems to be sort of double repo pattern.
Its classical target if FIB50.0 but I'm just targeting FIB38.2. TP 2.0 pips below FIB38.2 and SL 1.0 pips below swing low.
DislikedScalp buy trade in USD/CHF | Oct 21, 2019 Price close above 3x3 SMA then closed below it and then again closed above 3x3 SMA (blue line). It seems to be sort of double repo pattern. Its classical target if FIB50.0 but I'm just targeting FIB38.2. TP 2.0 pips below FIB38.2 and SL 1.0 pips below swing low. {image}Ignored
Dislikedi have a divergence emerging h1. giving hope for a northward shift. from here I expect the start of the buy zone. I bought. 0.9860.Ignored
Dislikedi have a divergence emerging h1. giving hope for a northward shift. from here I expect the start of the buy zone. I bought. 0.9860.Ignored
Dislikedi have a divergence emerging h1. giving hope for a northward shift. from here I expect the start of the buy zone. I bought. 0.9860.Ignored
On daily/D1 time-frame:
A bearish Gartley/222 pattern was formed as FIB88.6 (0.99772) coincided with abcd100 at daily closing of Nov 11. The pattern became significant after formation of engulfing bearish candle.
If Fed's Powell is gonna be dovish on Wed & Thu and upcoming CPI & retail sales are gonna be equal to/less than forecast, USD/CHF may reach ABCD100.
On H4 time-frame:
I am setting TP at ABCD161.8 (+2.0 pips & spread), it makes a support cluster with classical target of the engulfing candle of daily time-frame. Keeping the target minimum ahead of economic events and data is advisable. If my target is hit before release of US CPI tomorrow, I will look for a re-entry to trade the gartley of D1 with CPI. Otherwise, I will keep the trade on hold because I am not expecting a positive surprise in CPI. I am not expecting Powell to be hawkish either.
Risk: SL few pips above today's high (C point of ABCD of H4).
DislikedBearish Gartley/222 pattern on USD/CHF On daily/D1 time-frame: A bearish Gartley/222 pattern was formed as FIB88.6 (0.99772) coincided with abcd100 at daily closing of Nov 11. The pattern became significant after formation of engulfing bearish candle. If Fed's Powell is gonna be dovish on Wed & Thu and upcoming CPI & retail sales are gonna be equal to/less than forecast, USD/CHF may reach ABCD100. {image} On H4 time-frame: I am setting TP at ABCD161.8 (+2.0 pips & spread), it makes a support cluster with classical target of the engulfing candle...Ignored
DislikedBearish Gartley/222 pattern on USD/CHF On daily/D1 time-frame: A bearish Gartley/222 pattern was formed as FIB88.6 (0.99772) coincided with abcd100 at daily closing of Nov 11. The pattern became significant after formation of engulfing bearish candle. If Fed's Powell is gonna be dovish on Wed & Thu and upcoming CPI & retail sales are gonna be equal to/less than forecast, USD/CHF may reach ABCD100. {image} On H4 time-frame: I am setting TP at ABCD161.8 (+2.0 pips & spread), it makes a support cluster with classical target of the engulfing candle...Ignored
Disliked{quote} ABCD61.8 of daily time-frame, classical target of engulfing candle of daily time frame & ABCD161.8 coincide at the same point. We had set our minimum TP target at that point. The trade has been accomplished at TP. But we may enter a sell position again after 30% upward retracement of CD of H4 and we'll set next nearest TP target at the point where FIB50.0 of whole upswing made between Aug 13 & Oct 03 & B/a of D1 coincide.Ignored
Disliked{quote} ABCD61.8 of daily time-frame, classical target of engulfing candle of daily time frame & ABCD161.8 coincide at the same point. We had set our minimum TP target at that point. The trade has been accomplished at TP. But we may enter a sell position again after 30% upward retracement of CD of H4 and we'll set next nearest TP target at the point where FIB50.0 of whole upswing made between Aug 13 & Oct 03 & B/a of D1 coincide.Ignored