usdchf had done an ending diagonal and sold strongly, turns out it had bounced off the channel resistance. price then retraced a .618 in a corrective sharp move.
short usdchf - bounce off channel - .618 pullback - RSI divergence
just a chart that id like to add. shows that bulls look corrective. i might add positions if and once it breaks this trendline as well. all depends on the price action i see. you can trade from the top or trade from the bottom once it breaks out. your choice.
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selloff begun
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trade has been going good so far. this is what im looking into this week. some sort of bull momentum for the dollar(no clear indication as to end based on these charts. check my dxy post)
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i held tp1 til tp2 after seeing the impulse. tp2 is bout to hit
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so far so good wait for that tp2
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momentum is now bullish. buy the breakout or the candle. i will make a post about this during the weekend. big bullish trend is about to start if i am not mistaken so we do not want to miss out on the buys.
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DAVID_GIRALDO
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selloff begun
ChimbOt
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That candle doesn't look bearish to me
DAVID_GIRALDO
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thank you for your views. you are right. but i do not trade candlesticks. most of my analysis i do with line charts. i trade structure and what it does. whatever bullishness you see in the move that just happened, it does not have enough momentum to break the channel so i will be a bear. i was bullish for the pair until it did the ending diagonal after such a weak bullish impulse. no momentum to go up means it will come down. here is a more conservative setup though. bulls look corrective, i dont know if you would agree but i trust what i see