After a failed attempt yesterday the USDCHF broke above it’s prior high at 0.9708 with a pullback following a channel line overshoot on the 30m timeframe. The rising 30m trend channel indicates the bullish bias prior to the breakout. The 61.8% fibo resistance is still yet to break therefore I debate with myself wether to enter long at the 0.9725 or wait for a deeper correction. We are too far from the EMA50 therefore I think I stand aside for now.
USD/CHF: breakout pullback
This entry was posted on Tuesday, January 11th, 2011 at 11:52 pm and tagged with breakout, fibonacci, USDCHF and posted in trading note. You can follow any responses to this entry through the RSS 2.0 feed.
Tag Cloud1stthrust 123pattern AlBrooks atr AUDUSD breakeven breakout confluence correction DAX doubletop ECB EMA entry EUR EURCHF EURGBP EURGBP pullback EURNOK EURSEK EURUSD exit fakey FED fibonacci firstthrust flag flow futuresmag GBPCHF GBPJPY GBPNOK GBPUSD GBPUSD pullback headandshoulders insidebar keltnerbands measuredmove mistake performance pinbar pivotlevel priceaction psychology pullback range recap reversal s&p500 setup stoploss strategy support tactics takeprofit trend trendline USDCAD USDCHF USDJPY
- An error has occurred; the feed is probably down. Try again later.
- Gold Rebounds After Sharp Losses, US Consumer Confidence Shines
- US stocks in deep selling mode, USD/JPY follows DOW lower
- British Pound Halts Slide as UK Surprises With Budget Surplus
- As 10-Year US Yields Break above 3%, is the Dollar Turning a Corner?
- Consumer Confidence Gets a Boost in April
- Mexican EM Guajardo on NAFTA: We will not accept any type of restrictions in aluminum or steel
- Stocks Drop as 10-Year Yield Hits 3%
- Dollar Punches Above 109 Yen, Japanese Inflation Reports Meet Expectations
- USDCAD – Bulls Show Strong Hesitation Under Daily Cloud Top, Risk of Deeper Pullback
- EUR/CHF heading back to 1.2, after drawing support from 4H 55 EMA