Jump to content

USDCHF to form a bullish Gartley


PIA_First_IC

Recommended Posts

 

Critical time for Congress and the US dollar. News overnight is that the US House has voted to pass a stopgap funding bill that funds the government into mid-February. The bill now goes to the upper house for a vote

 

USD Index Weekly: Wednesdays bullish outside day is still holding but the long-term trend of lower lows from Q3 2015 to Q2 2016 is being pressured once more.

 

When we have large news events like this we find that technical analysis is ‘less reliant’ and large swings can be seen in either direction. With this in mind, we like to look for higher probability trade set ups that offer solid risk/reward ratios. I believe that USDCHF holds one today. I am only looking at one timeframe, daily.

 

Daily: We have a Fibonacci confluence area at 0.9550. This is the 161.8% extension from 1.0039 to 0.9735 and the 78.6% pullback from 0.9420 to 1.0039. This has formed a bullish Gartley pattern. It should also be noted that DeMark is at a 12 count on the one-hour chart. A 13 count highlights exhaustion. The first resistance is located at 0.9735

usdchf daily ig.png

In regards to the PIA analysis, no representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result.

Link to comment

Archived

This topic is now archived and is closed to further replies.

  • image.png

  • Posts

    • Rich Quack, a BEP-20 token on the Binance Smart Chain, is pioneering a vibrant ecosystem where holders can potentially profit through investment, community building, and active participation. It boasts several unique features, including being a deflationary token with a 5% automatic LP and 5% Auto Farm Feature. $QUACK is a stealth fair launched token that has undergone a Security Audit by TechRate, with LP Locked, Anti-Whale measures, and RUG Proof. It prides itself on being a 100% community-driven project on the BSC. It aims to revolutionize the landscape of secure investing and fundraising platforms by harnessing blockchain technology. It provides a safe environment for investors and fundraisers alike to engage and transact securely. Holders of the tokens can also partake in exciting opportunities such as jackpot raffles and lotto games that offer payouts at regular intervals—hourly, daily, weekly, and monthly. The protocol's frictionless yield generation mechanism collects 10% of transaction fees to distribute as rewards and contributes to liquidity pools, ensuring continuous growth and sustainability. With its recent listing on Bitget exchange, Rich Quack is experiencing a bullish price trend, signaling promising prospects for investors and enthusiasts alike.
    • my opinion is that Bitcoin will rise to $80,000
×
×
  • Create New...
us