EURCHF Change of Trend (Continued)
Hey Traders,
First, let us have a look at the four hour chart down the bottom of your screen. There, you can see as per previous drawing (linked below this chart) that we have had that little pop up and then a pull back into our demand area. Now while it is on a 1-2-3 move to the downside, we definitely could see this continue straight through our area. So we need to be very confident and sure prior to entering this trade and taking it to the upside. What we want to be looking for is a pull back into that "Killzone" drawn that you could see that little bit of a darker area on your chart with the rectangle drawn. I want to see a little bounce or a little bit of selling or buying going on within that area, followed by a break out and a push further up towards the trendline where we will move to the one hour chart.
Now we're over on the one hour chart. I want to see the price make an effort to break through this trendline. That'll be my next tick for this trading plan. I want confirmation that we are going to head higher because we've managed to break a fairly decent trendline on the four hour. If we do manage to break it, I want to see a break and a retest, not necessarily to the trendline, but maybe into the demand area of the push that was able to break it. Once we have that, I will be looking for the final thing down on the 15 minute chart.
What we're for down on the 15 minute chart is very simple and very easy. I want a standard (and clean) break of structure. I want to start pushing higher highs, maybe a higher high, higher low, higher high formation to tell us that there is a bit of buying power here and we can start moving this back up to the upside. If I see all of those things and I'm happy with what I'm seeing, I will enter the trade and trade it back up to about the 1.038.
If you enjoyed this analysis, let me know. Keep me updated on what you think is going to happen and if you have any questions, never hesitate to ask. Enjoy traders.
First, let us have a look at the four hour chart down the bottom of your screen. There, you can see as per previous drawing (linked below this chart) that we have had that little pop up and then a pull back into our demand area. Now while it is on a 1-2-3 move to the downside, we definitely could see this continue straight through our area. So we need to be very confident and sure prior to entering this trade and taking it to the upside. What we want to be looking for is a pull back into that "Killzone" drawn that you could see that little bit of a darker area on your chart with the rectangle drawn. I want to see a little bounce or a little bit of selling or buying going on within that area, followed by a break out and a push further up towards the trendline where we will move to the one hour chart.
Now we're over on the one hour chart. I want to see the price make an effort to break through this trendline. That'll be my next tick for this trading plan. I want confirmation that we are going to head higher because we've managed to break a fairly decent trendline on the four hour. If we do manage to break it, I want to see a break and a retest, not necessarily to the trendline, but maybe into the demand area of the push that was able to break it. Once we have that, I will be looking for the final thing down on the 15 minute chart.
What we're for down on the 15 minute chart is very simple and very easy. I want a standard (and clean) break of structure. I want to start pushing higher highs, maybe a higher high, higher low, higher high formation to tell us that there is a bit of buying power here and we can start moving this back up to the upside. If I see all of those things and I'm happy with what I'm seeing, I will enter the trade and trade it back up to about the 1.038.
If you enjoyed this analysis, let me know. Keep me updated on what you think is going to happen and if you have any questions, never hesitate to ask. Enjoy traders.
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