AlbashafFX | Strong Support Ahead, waiting for confirmation

2021年7月30日

We have been in a sharp fall and the price keep pushing down without correction.
but the price can't keep falling forever, at somepoint the price has to correct itself.

as we can see from the Chart, we can see some Wick Rejection just above our Support Zone indicating Bulls trying to take control but the Bears not giving up yet.
and next we can see a big Bear Trend Bar showing complete victory of the bears.

what we will do next is paying attention of the next Candle Bar


If this Trend Bar receive some follow up we can expect the price to fall deeper breaking our Support Zone.
and my most likely scenario are, this is an Exhaustion Bar which will not get follow up, the Price will slowly turn Bullish and at that time will be my
Long Entry for USDCHF.
stop loss could be placed just below our Support Zone.

But if this Trend Bar get followed up by other Bears, then i will wait for Retest into our Support Zone before entering Short on this pairs.


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Stay Safe, Stay Green

2021年7月30日

交易進行

we can see that on 4H Chart, Bullish Reversal Bar formed exactly at our Area of Interest.
it have a long wick, indicating buying pressure on action.
we are on the trade right now or first target will be Supply zone @0.908