Latest Trade Ideas

Candlesticks Intraday

Trade Idea : USD/CHF - Target met and buy at 0.9480

Typography

USD/CHF - 0.9548


Most recent candlesticks pattern : N/A

Trend                                    : Down


Tenkan-Sen level                  : 0.9561

Kijun-Sen level                    : 0.9530

Ichimoku cloud top                 : 0.9496

Ichimoku cloud bottom              : 0.9473


Original strategy :

Bought at 0.9450, met target at 0.9550

Position : - Long at 0.9450

Target :  - 0.9550

Stop : -


New strategy  :

Buy at 0.9480, Target: 0.9580, Stop: 0.9445

Position : -

Target :  -

Stop : -


The greenback extended the rebound from 0.9421 (last week’s low) in line with our bullish expectations, our long position entered at 0.9450 met target at 0.9550 with 100 points profit, this anticipated rise adds credence to our view that low has been formed at 0.9421 and consolidation with upside bias remains for another rebound to 0.9580-81 (61.8% Fibonacci retracement of 0.9680-0.9421), then test of resistance at 0.9595, however, near term overbought condition should limit upside to 0.9640-45. 

In view of this, we are looking to reinstate long on dips as the lower Kumo (now at 0.9473) should limit downside and bring another rebound. Below 0.9450 would abort and suggest the rebound from 0.9421 has ended, bring retest of this level later.