USDCHF, Level 4 drop for week 9, can it rise for week 10?
USDCHF continued to consolidate for Monday in week 9 and in the end, broke the low of the whole consolidation zone. It reached a new low and formed a level 4 bear trend in the chart.
I was long for this pair, so I am trapped in week 9. Getting trapped in the wrong analysis is no joke. It took a good 15% off my overall equity, combined with all the losses of other pairs. Fortunately, the profits from past weeks trading acted as a cushion against the bad trade management of mine.
From the analysis, we can see that it formed a classic formation of H&S or some may call it a V reversal. So with that, I am expecting an upward reversal in week 10.
I cannot say how long, or how high it will go, but I will be going in long for this pair as well. Since the pair ended the week in a reversal zone, when the market reopens, we can enter the market prudently.
I hope all traders to continue with a profitable Week 9 ahead. Please share your thoughts below, like and follow me for my weekly analysis on EURUSD, GBPUSD, USDJPY, and USDCHF!
I was long for this pair, so I am trapped in week 9. Getting trapped in the wrong analysis is no joke. It took a good 15% off my overall equity, combined with all the losses of other pairs. Fortunately, the profits from past weeks trading acted as a cushion against the bad trade management of mine.
From the analysis, we can see that it formed a classic formation of H&S or some may call it a V reversal. So with that, I am expecting an upward reversal in week 10.
I cannot say how long, or how high it will go, but I will be going in long for this pair as well. Since the pair ended the week in a reversal zone, when the market reopens, we can enter the market prudently.
I hope all traders to continue with a profitable Week 9 ahead. Please share your thoughts below, like and follow me for my weekly analysis on EURUSD, GBPUSD, USDJPY, and USDCHF!
