EURCHF Long term downtrend but this Support is holding.
EURCHF is trading inside a Channel Down since January and recently priced the latest Lower High.
We approach Support (1) which is a level that has held since July 27th.
Trading Plan:
1. Buy as long as a (1d) candle doesn't close under Support (1).
2. Sell if it closes under it.
Targets:
1. 0.96500 (top of Channel Down).
2. 0.93800 (-3.30% decline from the top, as all the bearish legs of the Channel Down have done so far).
Tips:
1. The MACD (1d) is under a Sell Cross. This favors the bearish trend, this is why the stop loss conditions should be so strict (candle closing under Support 1).
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Notes:
Past trading plan:
We approach Support (1) which is a level that has held since July 27th.
Trading Plan:
1. Buy as long as a (1d) candle doesn't close under Support (1).
2. Sell if it closes under it.
Targets:
1. 0.96500 (top of Channel Down).
2. 0.93800 (-3.30% decline from the top, as all the bearish legs of the Channel Down have done so far).
Tips:
1. The MACD (1d) is under a Sell Cross. This favors the bearish trend, this is why the stop loss conditions should be so strict (candle closing under Support 1).
Please like, follow and comment!!
Notes:
Past trading plan:
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