Thanks Johnathon 
Hi friends,
So the CADCHF and USDCHF BUEBs did not work out as thought. IMHO, it seems that the weekly bearish pinbars that formed last week for both pairs have yesterday & today really taking effect. If they keep going down, will wait for them to pullback to test resistance. IMHO, the day’s still young, they may yet turn around and start climbing, forming h4 or daily setups in readiness for next week
CADCHF H4:
USDCHF H4:
Cheers
Hey pabloonfx
Yes, nice spot. I am watching this level but as you said the candle has not yet closed.
Dudest,
Keep an eye out at this level. There is a nice RR before any problem area.
Cheers
Hey all,
super busy at moment. I will be back around in here tonight.
Johnathon
Heya Dudest,
the USDCHF did work out and do as we would expect. Price broke the high and run into the first resisiance area. From here it is up to the trader to realise this area and protect capital accordingly. I know I don’t talk about this in here as I keep for members but these areas are everywhere and it is how we manage trades.
As for your trade on the CADCHF, this was small but also reached the highs of the previous bars which acted as resistance.
I hope this helps. In the future try and keep an eye out for levels like these as they are really imortant. Every trade has a first support or resistance area and traders need to manage there trades of them.
I will attach one chart of USDCHF highlighting the area I am talking about.
I agree as the area you are looking for pull-backs to short on the USDCHF.
Safe trading and lets have a killer week!
Johnathon
I have just made a new article that can be read here: [B]Trading Price Action With Your Gut[/B]
Enjoy,
Johnathon
Would this be a good sell entry? To me it shows clear rejection off the resistance that has been tested many times before.
Thanks for the follow-up Johnathon, appreciated!
And you’re right, they both hit their recent highs before reversing
Regards!
Dudest
Hi Johnathon,
I saw this yesterday while looking for setups on Daily. It formed at a previous resistance and I thought if it broke below the pin, then it was worth taking (so i set up Sell Stop entries with TPs at recent lows). Price has already broken below the pin, hope it continues to slide lower!
Hi Pabloon,
Also noticed the 2BR at swing high following the uptrend.
I think it may go lower and test previous resistance and (hopefully) find that it’s now support and continue the trend higher
Nice spot, thanks for sharing
Was going through some of the other forums here at babypips (seeing what others are up to), and almost got my eyes burnt…
(Cliches aside), thanks Johnathon
A site for sore eyes!
Hi again,
=> Follow-up: CADCHF H4: After support was broken, price has swung back and tested resistance, which has held, and formed a nice BEEB:
Zoomed in:
Zoomed out:
Hi friends!
EUR/CAD H4: BUEB has formed at support after pullback from uptrend. Thinking it’s an A+
Comments welcome!
