Following the PBOC's manipulation and the massive drop for two days, price is starting to slow down.
I think we will see a bottom here shortly. If we don't hit 6.7696 before Monday's close, we can anticipate a turn here.
After the week closes, we'll get more confirmation of the risks in BTC and USDCNH. It could take as long as 3 weeks to confirm upside is viable again, so let's keep close watch of this and don't miss the discount to enter the long side again.
I'll update this one as needed.
As a sidenote, it's interesting to see volatility increase in this pair, it tends to move very little compared to other FX dollar crosses. An increase in volatility and liquidity might make traders become interested in it, which would create more opportunities and potentially higher win rate signals with increased liquidity.
Cheers,
Ivan Labrie.
I think we will see a bottom here shortly. If we don't hit 6.7696 before Monday's close, we can anticipate a turn here.
After the week closes, we'll get more confirmation of the risks in BTC and USDCNH. It could take as long as 3 weeks to confirm upside is viable again, so let's keep close watch of this and don't miss the discount to enter the long side again.
I'll update this one as needed.
As a sidenote, it's interesting to see volatility increase in this pair, it tends to move very little compared to other FX dollar crosses. An increase in volatility and liquidity might make traders become interested in it, which would create more opportunities and potentially higher win rate signals with increased liquidity.
Cheers,
Ivan Labrie.
Not
this is a buy signal inUSDCNY already
s3.amazonaws.com/tradingview/snapshots/h/H64ljq5L.png
Not
This is a buy signal in 
USDCNY alreadys3.amazonaws.com/tradingview/snapshots/h/H64ljq5L.png
Not
Acting very bullish, as expected.Not
Like a rubber band...Not
Bang on so far, the uptrend will resume here, I think.
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Feragatname
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İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.