Vladimir Ribakov analyzes EUR/CHF for a potential 100+ pip move on January 29, 2020. Twenty consecutive candles hugging the lower Bollinger Band, bullish MACD divergence, and a support zone suggest an upside correction. The trade triggers on a pullback into support with confirmation from a hidden divergence or false breakout.
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Hey guys, how are you? Vladimir Ribakov here from Traders Academy Club. This video is a day trading opportunity, 29th of January 2020. On the last couple of weeks, the market keeps and maintains its volatility. As traders, that's what we need. We need the market to move, we need the market to provide us the opportunity. That's our only way to To make money. If everything goes flat, we cannot make profits. So what is in today's menu and what am I looking to trade? So the chosen one for today is going to be the euro versus the franc. And before I dig deeper explaining all the terms in a tactical view, I would like to take the moment and to all those of you are watching us for the first time, welcome. To our trading community and to the channel. I would like to invite you to subscribe to the channel. Just follow the subscribe button below the video. As well, I want to invite you to join my live trading rooms and to join our free Telegram channel. Both links could be found below this video in the description and in the pinned comment. So the euro franc, what does this pair offer to us? First of all, we have a very powerful, uh, 20 candles right on the lower band of the Bollingers. It is coming together with the bullish divergence— bullish divergence, yes, sorry— uh, on the MACD. It happens right here between these 2 lows. Moreover, this is a dynamic support between the lows, as you can see here, uh, and, uh, dropping to lower time frame, we get here cycle, ending cycle by itself, and a potential reversal to the upside. So daily plus the 4-hour chart with the bullish divergences show us that very likely to have some corrective phase. Now corrective phase could take us as 2 waves, corrective phase could also make it as a little range. This or other way around, likely to assume that currently the buyers would go and actually fight for the price. Another very powerful, uh, help we have here is from the Forex Crystal Ball statistics, and you can see 28 and 29, 2 very, very, very powerful days for bullish, possible bullish reversals, as you can see right here. So what do we have here? Also very strong supportive zone. Um, right with the statistical days for possible reversals. And when we go lower to the 1-hour chart, we can see here that the market delivered 2 false breakouts. One of them is from the lows, one of them is horizontal with bullish divergence, then a bullish convergence by making higher highs. So long story short, it looks like we are potentially going into corrective phase to the upside. The way I see that, this area right here should not be broken and should be holding. This is critical, uh, for, uh, the buys to be able to, uh, to happen. So what I would want to see here is a drop down to this zone, creation of some bullish hidden divergence here, right? Uh, confirmation on the lower time frame. I do definitely want to see the supportive area hold bullish evidence like bullish candle, false breakout, or some trendline breakout here, uh, to provide us, uh, the buy opportunity and to enjoy the potential rally. Alternatively, we can have here 2 waves of correction or a flat range and then get the breakout for further continuation. One of the best ways to enjoy such rises is going to SRS Pro and get the signals in a direction. So we need a higher time frame which are currently lined up to the upside deliver us the agreement. Then what we are waiting for is exactly like happened here, uh, get the ABCD wave correction breakout and enjoy the rallies. And same could happen right here, ABCD correction breakout And enjoy the rallies. My bullish view will remain if and as long as we will hold this mentioned area. If we suddenly go straight down in one leg to below this area, close and hold below, it will invalidate my bullish view. I will step back and look for clearer and better opportunities. So the way I see that, I am after the buys on this pair. How do you see this pair? As you remember, previous week we enjoyed the euro franc good riding to the downside. How do you see this week? Will the market deliver? And what's your view? Share how do you see that right below this video in the comment section. And thank you very much in advance for your Participation. I wish you a wonderful day and thanks for watching. I am Vladimir Bokov from Traders Academy Club, and for more trading opportunities, once again, I would like to invite you to our live trading rooms, and the link could be found below this video in the description. I'll see you again on the next days when the market delivers more interesting opportunities. Thanks for now and ciao.
