Buy posted at 8:21am ET buying at 0.9575 area. We have seen multiple supports line up at this level. Looking for a triple bottom bounce and continued signs of reversal after that. Market has ranged between 0.9575 and 0.9700 since falling below the top on Dec. 13th. A break of the 4hr trend line would confirm more upside.
No CommentsBuy posted to TAP at 8:36am ET buy USDCHF at 1.0096. Looking for long term reversal set up. Supports on left side of daily low from 1.0060 to 1.0090. Last low at .9930. Now looking for support again on the right of the low for the head and shoulders reversal. Still needs to be confirmed and this is very early in the pattern.
No CommentsTrade posted to TAP at 8:52am ET buy USDCHF at 1.0038. This is a counter trend trade based on reversal indications. First indication was support at the 1.000 level, second is the engulfing candle formation on the 4hr chart, third is the break of the 30 minute trend line and retest for the bounce.
As this is counter trend will look to protect the trade fairly quickly near the 1.0060/70 area. If I see a break of 1.0070 will then look to 1.0100.
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