USD/CHF: Ichimoku clouds
04 January 2018, 15:39| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 0.9765 |
| Take Profit | 0.9800 |
| Stop Loss | 0.9750 |
| Key Levels | 0.9700, 0.9710, 0.9786, 0.9800 |
Let's look at the four-hour chart. Tenkan-sen line is crossing Kijun-sen from below, the blue line is directed downwards, while the red one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument has been corrected to the Tenkan-sen line. One of the previous minimums of Chikou Span line is expected to be a support level (0.9700). The closest resistance level is the lower border of the cloud (0.9786).
On the daily chart Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument has broken down the cloud and slowed down its fall. One of the previous minimums of Chikou Span line is expected to be a support level (0.9710). The closest resistance level is the lower border of the cloud (0.9800).
On the four-hour chart we can see the beginning of the trend reversal. On the daily chart we can see a correction of the downward movement. Long trades can be opened as soon as we get a confirmative signal from Chikou Span line (the line should cross the price chart). Presumable entry point is 0.9765, Take Profit – 0.9800, Stop Loss – 0.9750.
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