Trade Recommendation: EURCHF | Hacked: Hacking Finance
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Analysis

Trade Recommendation: EURCHF

Posted on .

Trade Recommendation: EURCHF

Introduction

This article was posted on Thursday, 13:16, UTC.

The market bounces from 1.15200 level and RSI confirms price reversal in the overbought zone. We can see a bearish divergence formed by the price, MACD and RSI and it’s a strong trend reversal signal. ADX line of DMI indicator falls and it gives a signal that the upward movement is not so strong as before. DMI indicator allows open short trades. MACD confirms downward movement. In spite of the up trend, we have signals confirming the trend reversal and further downward movement. It’s time to sell and we have to spot the entry levels for placing pending orders.

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Moving Averages with different periods are the support lines and it will be logical to trade based on breakout signals below these lines. If the price breaks one of these support lines, we’ll join to possible downward movement. Simple Moving Average with period 20 is a good entry level. We can place sell-stop orders below this support line. It’s 1.14300 level. Stop orders must be placed at 1.15300 level which is higher than the local swing high. Profit targets should be based on Simple Moving Averages with periods 50 and 100. If the market moves upward and breaks the resistance level without activation our sell orders, we’ll have to delete them and wait for a new trading opportunity. Recommended risk size for this trade is up to 3% from your deposit.    

Sell: 1.14300
Stop: 1.15300
Profit Targets: 1.13010 and 1.11810

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Dmitriy Lavrov

Dmitriy Lavrov

Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.

Comments
  • user

    AUTHOR Synfl00d

    Posted on 1:33 pm August 3, 2017.

    My opinion is that the swiss federal bank will try to support this new high at all costs. Don’t think they let it down again to 1.11 without intervention by them.

  • user

    AUTHOR Dmitriy Lavrov

    Posted on 4:36 pm August 3, 2017.

    The market made good upward movement. We should expect for 50% retracement.

  • user

    AUTHOR Tarik

    Posted on 10:44 pm August 3, 2017.

    How can I trade that?
    I suppose you are not talking about actually getting CHF paper. Is there an exchange/broker online platform that you suggest dealing it?

    • user

      AUTHOR Dmitriy Lavrov

      Posted on 11:37 am August 4, 2017.

      You trade this pair like you trade others. The same broker. You don’t need special terms.

  • View Comments (4) ...
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