Master the IBWT pattern

Want

Get it now (risk-free)

8 patterns that make up 98% of my PA income

Get it now (risk-free)

Learn the Scalping Secrets

Get it now (risk-free)

Read on Mobile Enter Reading Mode

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

Leave a Reply Cancel reply

Disclaimer: Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Colibri Trader Ltd, its employees, directors or fellow members. Futures, FOREX, CFDs, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures, FOREX and CFDs markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, spot forex, cfd's, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.