FULL EURCHF ANALYSISHello my wonderful community !
I’m back again
I really appreciate you guys for reviewing my charts
Kindly like and comment on how you feel the market will go , I’m open to learn and communicate with other hardworking traders on here.
The colors for each line/zone
Monthly - Yellow
Weekly - Orange
Daily - Green
4H - Red
1H - Purple
My Monthly chart view:
Ever since 2019, price has been in a downtrend by making Lower highs and Lower lows.
Price keeps breaking major Support areas and turning them to dynamic resisitance areas and respects the EMA 14 anytime it makes a correction.
From 2022 to mid 2024 , Take note as price is in a range and respecting the channel constructed between the Monthly Yellow lines.
My Weekly chart view:
Going into the weekly TimeFrame, it is truly clear that price entered a range from 2022 until now.
My Daily chart view:
Price is in a range like I said earlier as this is due to the correction observed in the bigger timeframe
My 4H chart view:
As we move into the smaller timeframe of the 4H period, the market seems to be clearer
So I’ll go further and look for buy Setups as Price currently approached an Area of Demand (this area also serves as a major support zone and has been respected multiple times over the years )and bulls seems to be coming in strong with rising momentum.
To play safe i feel i can capture a buy setup as price approaches the Demand zone after the break of the EMA 50 by the bulls and the the EMA 14 crossing over it also
Take note of the MACD marked with red diagonal line as it is also a confluence I’m using to put the odds in my favor.
My 1H chart view:
On the hourly and anything below this timeframe , I can choose to capitalize by scalping and looking for entries that is validated by my own trading style , I’m also going to use the Fibonacci tool to help my entry .
I will be back to review this trade and see how things go
Avoid entry of any trade if they will be any major news that will affect price.
