DislikedAnyone else looking at the set up in the USD/CHF? In the 4h chart there is a nice break through the 21ema and a pullback, looks like next stop could be the 89SMA in the 4h. I'm keeping an eye on the 1h chart as I think it will pullback to around the 0.9075 area before heading lower, so might look to get in at a turn around there or wait for the break of the 1h trend line and get in there, possibly on a pullback to the trend line. Looks like a nice set up to me, guess we will have to see how it plays out {image} {image}Ignored
Good to have you on board. I don't play with this pair usually but have had a look at what your are seeing and its nice. Breakdown thru the 21 from above after a long run upwards - come back to it then move off to the 89... Pure Rythym in the making. ( on the H4 )
Question for you - this is looking good on the H4 & the H1 for a possible short but do you personally look at the bigger picture on Daily & Weekly.
The Rythym on the Weekly shows approx 80 pips to go until it meets the 89 so it is still Bullish there and on the Daily there is possible bounce further up off the 8 & 365 ma's.
Interested in your views because I ( & some others here ) find it a bit confusing about which T/Frame we should follow. I know that we are H4 Traders and we should trade from that chart but we are also taught that the larger T/Frames are generally stronger.
BTW - this is a similar setup to what is brewing on the AudNZD. Cheers mate.