If USDCHF continues down below the current Shifting POC (dashed red), I expect it to reach the bottom of around 0.908 in three days.
The level is where massive mid-June candles overlapped mid-through the great rally. There is a short-lived overnight consolidation that worked as a launchpad for the continuation.
Then, there is the start of that very same really projected under the Shifting POC's angle (red arrow). For me, that makes it a great level to trade and I will wait on 1h to see reaction before I enter the long.
This chart shows the same logic working in recent history when a projection of the previous value channel's low created a new value channel's high. A historical POC, then, highlighted a rejected breakout which would make a good short back to Shifting POC.
The level is where massive mid-June candles overlapped mid-through the great rally. There is a short-lived overnight consolidation that worked as a launchpad for the continuation.
Then, there is the start of that very same really projected under the Shifting POC's angle (red arrow). For me, that makes it a great level to trade and I will wait on 1h to see reaction before I enter the long.
This chart shows the same logic working in recent history when a projection of the previous value channel's low created a new value channel's high. A historical POC, then, highlighted a rejected breakout which would make a good short back to Shifting POC.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.