Technical Analysis of the USD/CHF

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Weekly Analysis (W30)

Strategy: Short and Long Positions

1. Short Position:
Entry Point: Sell when the price reaches a level near the upper boundary and a downward trend is anticipated.
Target: Reach the lower support levels between 1.0 and 1.2 (or 1.3).
Stop-Loss: If the price breaks above the red line (a critical resistance level) to minimize potential losses.

2. Observation and Evaluation:
Red Line: Represents a critical resistance level. A break above it could indicate a trend reversal or a significant correction.
No Trades: If the red line is breached, no new positions will be opened. The price movement will be observed to determine if it is a short-term correction or a long-term trend reversal.
3. Long Position:

Entry Point: After reaching the support levels (1.0 to 1.2 or 1.3), a buy will be considered once an upward trend is confirmed.
Target: The upper boundary at 2.0.
Hold Position: The long position will be held until the upper boundary is reached.

Summary:
The strategy initially involves opening a short position and profiting from an expected drop to the support levels at 1.0 to 1.2 (or 1.3). If the price breaks the red line, no new positions will be opened, as this could indicate a trend reversal or a short-term correction. After reaching the support levels and confirming an upward trend, a long position will be opened and held until the upper boundary at 2.0 is reached.
交易开始
评论
My target of 1.0 has been reached. One could wait to see if 1.2 or 1.3 is reached, but that is too risky for me, as trend changes can occur quickly. My next trade will be a long position if the 1.0 level is reached again.
评论
Standpoint:
The support line at 1.0 has been breached. Due to current market conditions, I will not enter a long position today. There is a possibility of market corrections or the market might move sideways, fluctuating between two points.

Strategy:
No Long Position Today: Although the support line at 1.0 has been breached, I will not enter a long position today.
Observation and Analysis: The market might experience a correction or remain in a flat pattern, oscillating between two points (up and down, up and down).
Postpone Decision: I will wait until tomorrow... before entering a new position.
评论
Today's market movements were ideal for scalping, but the specific trades cannot be shown due to TradingView's limitations - charts can only be published from a 15-minute timeframe, which is too long for scalping.

Continue with the Analysis: I will wait to see if the 1.0 level is reached again tomorrow to enter a long position. Otherwise, no new trades will be made.
交易开始
Small Position - buy and hold.
评论
If the 1.0 level is not clearly breached, do not enter a long position!
交易结束:到达目标
Happy weekend to everyone who witnessed this masterpiece.
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