Usdchf

[wizAlvin]

usdchf.jpg
2023.12.22 : (weekend),USDCHF, Pinbar
green pinbar candle – clear trend rejection at a significant level and chart low - possible trend rejection trade upward
However : this Pinbar rejection is rare for trend changes for USDCHF – one other seen – 2018/09/11 so: Prepare for a likely messy consolidation 13^th to 27^th july 2023.
however there is a clear rejection to move and stay below 0.85574 almost exactly the 161.8% fib of the prior swing low swing high indicating a move up – end of trend.
Holidays will reduce the volume of trades so watch for a break close and retest upward of this

[wizAlvin]

2023.12.27,USDCHF, Pinbar , high = 0.85798, low = 0.85313
red pinbar candle – clear rejection of the prior trend rejection candle – indicating trend following – or possible indecision at this significant level and chart low

[wizAlvin]

big red candle move dow from that indecision at the significant level and previous chart low to a new chart low - for me

seemingly usd weakness on the monthly TF - usdollar back to 100.6 significant level

[wizAlvin]

Long wicked green pinbar candle – clear trend rejection at a significant level and chart low - possible trend rejection trade upward
However : this Pinbar rejection is rare for trend changes for USDCHF – one other seen – 2018/09/11 so: Prepare for a likely messy consolidation 13^th to 27^th july 2023.
however there is a clear rejection to move and stay below 0.8442 almost exactly the 261.8% fib of the prior swing low swing high indicating a move up – end of trend.
Holidays will reduce the volume of trades so watch for a break close and retest upward of this