DislikedHi SChaos ...
Question is, is it ok to take this BUOB as continuation (also break of 2D PB) while we only have H4 close above 1.2900 ?..Ignored
sorry for the late reply.
assuming the 2-day PB hasnt triggered yet,
positives:
- big BUOB
- 61.8 Fib. retracement (dodger blue)
negatives:
- Daily - monthly trend is bearish. chf has been very strong lately.
- ppz/traffic/1.30 just above price (PPZ/traffic are shown in Daily chart as bar lows [lime box], lime horizontal line, & yellow rectangle; 1.30 is red horizontal line).
in your H4 chart, u show a small BUOB off of 1.29
is it ok to take it?
only u can answer that.
this is a countertrend trade (IMHO), the FTA is very near, but it's obvious that u know where price would likely stall.
if u were aware of the risk & the FTA, then u could say it's tradeable. the key is u to manage the trade (& each trade we take) accordingly.
if u take into consideration my previous post about eurchf, 1.32 didnt hold as support, 1.30 didnt as well. so my bias now is still bearish (based on Daily - Monthly) with a potential for further consolidation, within 1.27/1.28 to 1.31/1.32 (see 2 rectangles in the weekly chart; possible price movement is shown as well)
i wont be surprised to see 1.24 area again, but i think consolidation is more likely.
let's see
hope this helps