EURCHF - Update on Sell - Analyzing Structure on Minor Timeframe
Following our previous analyses and having opened short positions, we are updating said sell opportunities by analyzing the
EURCHF
pair on minor timeframes.
The two scenarios we are currently monitoring (both possible) are the following:
1. The pair has been consolidating in a bigger contracting flat, on the 4hr timeframe. Said flat is completed now, and
EURCHF
is resuming it's upward swing for one more upside.
2. The pair has double topped on minor timeframes (please refer to our daily analysis as a necessary complement on this), and has already commenced it's downside movement. In this respect, this last upside structure on the 60min timeframe could be an expanding flat for more downside. This scenario will be confirmed only if the pair resumes it's downward momentum and drops. However, when the price gets to the 1.167 level, we still need to observe the structure because it could still be an running flat (instead of a contracting one) and we could still be playing out scenario 1 instead.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
EURCHF
pair on minor timeframes. The two scenarios we are currently monitoring (both possible) are the following:
1. The pair has been consolidating in a bigger contracting flat, on the 4hr timeframe. Said flat is completed now, and
EURCHF
is resuming it's upward swing for one more upside. 2. The pair has double topped on minor timeframes (please refer to our daily analysis as a necessary complement on this), and has already commenced it's downside movement. In this respect, this last upside structure on the 60min timeframe could be an expanding flat for more downside. This scenario will be confirmed only if the pair resumes it's downward momentum and drops. However, when the price gets to the 1.167 level, we still need to observe the structure because it could still be an running flat (instead of a contracting one) and we could still be playing out scenario 1 instead.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
評論:
EURCHF has broken the top now, as expected. From this moment on therefore, we will be looking for sell setups, on this pair: watch out for ending diagonal formations, double tops and other price action patterns for an entry point on their break. For a more conservative approach, wait for a first impulse to the downside, wait for a small correction of said impulse on the 60min timeframe, and sell the break of said correction with a stop loss above it.