EURCHF is at the bottom of its current continuation flag correction, and there is good probability we will get this upside move.
We can see since mid February this year, price had a strong bullish impulse phase, pushing to price way up.
Naturally after a strong impulse, price will need to form correction, and we get this larger flag correction in the making.
Latest price had a move down, but failed to continue after breaking previous lows. A descending channel formed on the LTF also.
I will wait for one last confirmation from the price, a strong LTF impulse up breaking above the descending channel, and continuation correction to get in the buy.
hi, thank you for analyze. could you tell what LFT stands for?
jojofang0901
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@hamidrezatatar LTF = lower time frames, HTF = higher time frames
Eagle5575
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EURCHF has been in my Watchlist for about a week and my closest attention is on when it has broken down the last LL of the Channel in the Daily Chart.
I'm now waiting for a Bullish Signal to go Long and am thinking too to place in a BLM Order.
Thank you for your timely analysis as it helps to strengthen my analysis too.
All the best ye.
jojofang0901
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@Eagle5575, great nice to hear. I am waiting for one last confirmation if the price can continue out of the current LTF correction then gives me a good confluence to enter
Kirimi_Cateson
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Hello Sir Jojofang. Thanks so much for the set up. I was on it but you have boosted my confidence miles away.
A big thank you for your trade ideas. I love the way you seem to take the time and effort to explain the reasoning behind the idea. Hope you continue. Rgards
jojofang0901
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@ulanowski, Great happy to hear. I do that on all my analysis and other educational contents.