Pair: USD/CHF Current Price: 0.8680 Trade Direction: sell (bearish Bias) Long-Term Trade Signal: USD/CHF - Short Position Setup We're seeing a bearish engulfing setup on the USD/CHF weekly chart, indicating a potential long-term downtrend. This trade is structured for extended holding to capture substantial pip movements. Key Trade Details - Sell Entry: Around the 0.8670 level - First Major Target: 0.8300 (a move of approximately 370 pips) - Extended Target: 0.8000 (a move of approximately 670 pips) Trade Plan 1. Sell at 0.8670: Enter a short position if USD/CHF maintains resistance at this level on weekly closes. 2. Hold for First Major Target: 0.8300 – this would be an initial substantial move, aligning with the long-term downtrend. 3. Extended Hold Target: 0.8000 – for those looking to capture even more on this potential longer-term trend.

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Hey everyone! Let’s get a discussion going—what’s your #1 favorite pair to trade and why? 🎯 Whether it’s the volatility of GBP/JPY, the steady trends of EUR/USD, or the exotic moves of lesser-known pairs, we all have that one pair that just "clicks." Is it because of the technical setups, market hours, or maybe just how it moves? Let us know! Share: - Your favorite pair - Why you like it - Any unique strategies you use Let’s learn from each other’s insights and maybe even discover a new favorite! 👥💬

Trend and Momentum: Gold is currently in a strong uptrend on the weekly chart, characterized by consecutive green candles and minimal pullbacks, signaling robust bullish momentum. Trading above key moving averages supports this bullish bias. RSI Insights: The RSI is at 82.04, indicating overbought conditions. While this doesn't guarantee an immediate reversal, it suggests that buyer enthusiasm may wane soon, possibly leading to profit-taking or consolidation. Resistance Levels: The current price around 2747.39 is approaching all-time highs, making it susceptible to resistance. Extended movements from the mean price, indicated by the moving averages, heighten this risk. Bollinger Bands: Gold is pushing against the upper Bollinger Band, reflecting strong bullish pressure. However, remaining above the upper band for extended periods may increase the likelihood of a minor pullback or sideways movement. Bearish Divergence: I’ve observed potential bearish divergence on the daily chart, with prices making new highs while the RSI trends downward, indicating waning buying strength. This divergence often precedes pullbacks or corrections, particularly after a strong uptrend. Support Levels: Should a pullback occur, gold may test support around the middle Bollinger Band or the 20-day moving average near the 2700 area. A stronger support level lies around 2650, providing a firmer base for larger retracements. Volume Analysis: Recent highs lack dramatic volume increases, suggesting the upward momentum isn't strongly backed by buying pressure. This aligns with the bearish divergence and hints at a potential slowdown. Summary of Potential Scenarios: 1. Bullish Continuation: If gold holds above 2747, it may continue toward 2800. 2. Pullback: Given the overbought RSI, a small pullback to the 2700-2650 area could set up a healthier base for future rallies. 3. Sideways Consolidation: Gold might consolidate between 2700-2750, allowing the RSI to cool off. Short Entry Signal:

In my trading journey, I’ve found engulfing patterns to be one of the most reliable signals, especially on the weekly timeframe. I focus on these patterns primarily on the daily and weekly charts, and I’m proud to say that I've achieved a remarkable 90% success rate by trading them. Engulfing patterns signal strong reversals, making them an ideal choice for traders looking to capitalize on potential market shifts. Whether you're a seasoned trader or just starting, I recommend keeping an eye on these formations. They not only provide clear entry and exit points but also enhance your overall trading strategy. Check out my latest video for a deeper dive into how I identify and trade these patterns!