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NZD/CHF Trading Box Effect

Daytrader21 Publié 14 sep comme Analyse sur NZD/CHF, Cible: 0.7438, Date: 3 de novembre, 12:00 GMT  dans #Technical analysis #Support #Resistance #NZD/CHF #Elliott Wave #Range #Abc Correction #Box Effect
Nothing much has happened with NZD/CHF in last few years as we are moving in an never ending ranging zones. On the weekly chart (see Figure 1) you can notice this trading range boxes on top of each other which are characteristic in this range environment and which clears further current price structure. Usually the top/bottom of previous range box provides support or resistance for the next trading box as old resistance has become new support and vice versa. But there are times when price do…
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Daytrader21 19 oct

Update 2: Since my last update the market has stayed in a tight congestion between 0.7550-0.7450. based on Elliott wave this is a very common price action as usually during this stage of wave 4 we are moving in an consolidation. However we should complete an abc correction here so we can expect a false break out in either direction of this congestion zone than a move back inside the range before the resumption of the bearish trend

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Daytrader21 25 oct

Update 3: We're only 30 pips away from our target and as expected we where trading inside this range  between 0.7550-0.7450 and we should continue trading inside this range in coming week as well. Key support for next week remains 0.7400 which needs to hold the market in order for our forecast to remain valid.

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Daytrader21 29 oct

Update 4: As expected the market found support at o.7400 as it was unable to break below and we already have some sort of reaction from this level. We have strong supply level at 0.7550 which should provide a good resistance and I'm hoping it will be a level good enough to give a strong momentum for another push down towards 0.7400

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Daytrader21 1 nov

Update 5: Although we broke above 0.7550 supply level it proved to be a false breakout as we're back down. For next week I'm expecting the next resistance level to be at  at 0.7500 big round number as we have a weekly close below this level it suggest further downside. We're now roughly 50 pips away from our target but Monday morning i'm expecting current sell off to resume and get closer to our forecast price.

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Daytrader21 3 nov

Update 6: AT 12:00PM we where only 30 pips away from our target but few hours later our target was hit and  the market found some temporary support right at our target of 0.7438. Overall I'm satisfied by how I've managed to predict the movements in this pair

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NZD/CHF Trading Box Effect

Daytrader21 Publié 31 juillet comme Analyse sur NZD/CHF, Cible: 0.7620, Date: 1 de septembre, 12:00 GMT  dans #Technical analysis #Support #Resistance #NZD/CHF #Price Action #Range #Box Effect
Nothing much has happened with NZD/CHF in last few years as we are moving in an never ending ranging zones. On the weekly chart (see Figure 1) you can notice this trading range boxes on top of each other which are characteristic in this range environment and which clears further current price structure. Usually the top/bottom of previous range box provides support or resistance for the next trading box as old resistance has become new support and vice versa. But there are times when price do…
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5 Commentaires
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Daytrader21 3 aou

Update 1: Nothing much has happened and the sellers are still in control we need to test the 0.7600 level before going back up again. if we manage to stay below 0.7750 the sellers will be still in control only a break and a close above that resistance level will suggest otherwise/

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Daytrader21 9 aou

Update 2: As expected the momentum keep pressing down and we're now only 30 pips away from our target. We' still have to touch 0.7600 the middle of the 0.7750-0.7500 box. Right now 0.7700 remain key resistance level so we may see a retest of that level before a final spike down

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Daytrader21 16 aou

Update 3: Nothing much has happened since my last update except the fact that new we have 2 small boxes (congestion zones) on top of each other and as previously said 0.7700 has indeed stopped the upside momentum. We still need a final spike lower before to take in consideration any significant upside movement

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Daytrader21 24 aou

Update 4: although we already hit our target and had a rebound from there, we're still in a tight congestion one between 0.7700 resistance one and 0.7620 support one and until either of this 2 levels gives up we should expect further consolidation. as I said in my last update we still need a final spike lower to make  "v" shape type bottom.

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Daytrader21 30 aou

Update 4: As expected from preview update nothing much has happened and we further consolidated as per my projection. The structure of current wave suggest further downside movement and a break below previous Friday low is in the cards for Monday. Be aware of a break below 0.7648 as Elliot Wave suggest this move should develop 3 waves to the downside but so far we only managed to develop wave A from 0.7875 high and wave B as form of consolidation between 0.7700 and 0.7600 support level

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USD/CHF Trading Box Effect

Daytrader21 Publié 20 juillet comme Analyse sur USD/CHF, Cible: 0.8923, Date: 1 de septembre, 12:00 GMT  dans #Technical analysis #Support #Resistance #Volatility #Consolidation #USD/CHF #Box Effect
Since SNB has introduced the 1.200 EUR/CHF peg, USD/CHF volatility has dropped to all time low and this has greatly impacted the price action. On the weekly chart this can be observed very clearly (see Figure 2) how even in the current year the market range has narrowed and become even tighter, roughly 400 pips. Usually during this slow periods price will continue consolidating until we'll break into a new trend.
Figure 1. USD/CHF Weekly Chart
On the daily chart (see Figure 2) w…
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4 Commentaires
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Daytrader21 26 juillet

Update 1: As per my analysis we should go up but before down but the breakout to the upside from last box lacks momentum behind it as we have no strong close above that box. What I'm expecting next is for the market to turn back inside that box and this time use as support level the middle of the box which is 0.8950 level.

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Daytrader21 3 aou

Update 2: As per my weekly chart 0.9150 and so far the high was at 0.9105 and the momentum has started sifting to the downside, this may big a sign that we're turning lower back inside the previous trading box but we need a break and a close below 0.9000 round number and psychological number

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Daytrader21 9 aou

Update 3: Current price structure is suggesting we're making a top and this up leg is overbought, but we need a break below 0.9000 big round number to have our confirmation that sellers are in control. Resistance stands at 0.9100 and next big support stands at 0.9000 any break of this to levels will either stimulate more upside or downside.

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Daytrader21 16 aou

Update 4: As expected we finally started to break lower although 0.9000 is still intact there is high pressure building above this level and we may soon see a break

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