EURCHF Trade Scenarios as of 2/20/2020 - 3:58 PM ET (UTC-5)
EUR/CHF Trade Watch Analysis
02/17/2020 - 3:51 PM ET (UTC-5)
Daily Chart Shows Downtrend
Invalid Sanyaku Kouten
Tenkan-Kijun crossover, step 1, and Chiko Span crossover of price, step 2, happened on the same candle. This means the reversal signal by itself is weak, and so not a valid trade signal on its own. Would need to see a pullback of price and then a breakout of the previous high above Kumo to take a long position. In addition, the Kijun Sen and Senko B would need to be angled upward before I would actually place the buy order in that case. The price also must not fall below the Kijun Sen to be a valid buy order.
02/17/2020 - 3:51 PM ET (UTC-5)
Daily Chart Shows Downtrend
Invalid Sanyaku Kouten
Tenkan-Kijun crossover, step 1, and Chiko Span crossover of price, step 2, happened on the same candle. This means the reversal signal by itself is weak, and so not a valid trade signal on its own. Would need to see a pullback of price and then a breakout of the previous high above Kumo to take a long position. In addition, the Kijun Sen and Senko B would need to be angled upward before I would actually place the buy order in that case. The price also must not fall below the Kijun Sen to be a valid buy order.