My Current Position in USD/CHF. Low Risk
Disclaimer:
Any of the content presented on my page showing my analysis of the market is just that, an analysis which means this is my personal opinion of where the price is going to go. Do not by any means take this simple analysis for a reason to enter a trade, I am not presenting these analyses as a form of signals, simply a way to get feedback and opinions from others on how my trades look. Take this trade at your own risk, but know forex is a risky market that you can make a lot of money but can lose that money or even more just as fast, enter these markets with your own risk and good luck with your trading :).
Daily Analysis:
Still there is not much price action to base this trade off of on higher time frames except a big pin bar, but we can clearly see that there was already a huge drop in price in the previous few days and there could be a large amount of sellers that are still in the market. I am going to try and take a low risk trade with a tighter than usual stop loss to get me out of the trade early if I need to. There is a lot of Demand for the Swiss Franc right now and the whole world is at a stand still with the new Omicron Variant that is already becoming more and more relevant. We may see a big pullback in all sectors, or we could see a stable economy while dealing with yet another virus.
Hourly Analysis:
Price has shown continued momentum to the downside all while having small pullbacks to the upside multiple times throughout this push to the downside. As you can see the big bullish candle to the right of the arrow had closed well below the recent lows which are pointed out by the arrow, this leads me to believe that their is still going to be momentum left in this move and this could be a low risk but high reward trade.
Thanks Again,
KeySlot
Any of the content presented on my page showing my analysis of the market is just that, an analysis which means this is my personal opinion of where the price is going to go. Do not by any means take this simple analysis for a reason to enter a trade, I am not presenting these analyses as a form of signals, simply a way to get feedback and opinions from others on how my trades look. Take this trade at your own risk, but know forex is a risky market that you can make a lot of money but can lose that money or even more just as fast, enter these markets with your own risk and good luck with your trading :).
Daily Analysis:
Still there is not much price action to base this trade off of on higher time frames except a big pin bar, but we can clearly see that there was already a huge drop in price in the previous few days and there could be a large amount of sellers that are still in the market. I am going to try and take a low risk trade with a tighter than usual stop loss to get me out of the trade early if I need to. There is a lot of Demand for the Swiss Franc right now and the whole world is at a stand still with the new Omicron Variant that is already becoming more and more relevant. We may see a big pullback in all sectors, or we could see a stable economy while dealing with yet another virus.
Hourly Analysis:
Price has shown continued momentum to the downside all while having small pullbacks to the upside multiple times throughout this push to the downside. As you can see the big bullish candle to the right of the arrow had closed well below the recent lows which are pointed out by the arrow, this leads me to believe that their is still going to be momentum left in this move and this could be a low risk but high reward trade.
Thanks Again,
KeySlot
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