Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the EURCHF, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.[/I]
Top Down Technical Analysis: After the formation of the M pattern and breakout to the downside, the market started initially pushing down, without going so far from the swing, and since the beginning of November it has been consolidating much of the time inside a wedge formation.
When, where and why would we step into the market? Overall, this market looks bearish because not really able to continue the upward movement as previously expected. However, before entering short we would see a sharp breakout of the current structure, considering the random volatility inside the consolidation area, we would get stop out many times trying to chase to down move. In the scenario of market continuation to the upside, no action will be taken on here.
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Sincerely, Cybernetics Trading Lab
DISCLAIMER Please note the views are not investment advice and should be used only for educational purpose.[/I]
I agree with you in the general sense of the idea, but I think you still need to read the news on the asset. By the way, do you somehow take the news into consideration when writing an idea?
The information is detailed and quite concise. Thank you for the idea! It would be interesting to know the complete list of tools you use in your analysis.