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EURCHF Trading Setup

Posted on Sep 25th, 2017

by colibritrader

EURCHF Trading Setup

by: Colibri Trader

Dear all,

It has been a great day for ones of you who managed to get on-board of the Crude trade today. Yesterday, I wrote about it. I was waiting for a bearish rejection, which happened today and gave a great entry opportunity. Have a look at the screenshot below and the pinbar that formed on the 4H chart before price shot up almost 3% for the day.

The other two opportunities have not really materialised. EURUSD has gone lower to the support level but is not giving a bullish indication so far.

Same for AUDUSD. It has fallen down slightly, but still not giving a positive indication of direction.

EURCHF Trading Setup

This week looks rich in setups from the very beginning. Another potential setup I am monitoring is the EURCHF pair. I have not analysed that pair for quite some time now. Last time I did it was probably in 2015.

Looking at the daily chart, there is a bullish rejection or a pinbar just above the major resistance.

I missed this opportunity yesterday and today price has plummeted. The red candle has engulfed the previous bullish candles. I will be looking for a retracement and a potential re-entry.

A nice re-entry spot is around 1.1500. It really depends on price action, but so far that seems to be the most imminent resistance level.

Tomorrow, I will be definitely watching price action closely.

Happy Trading,

Colibri Trader

p.s.

Read this article to learn how to get on a trade that you have already missed.

Or check out my professional trading course

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