USDCHFHave a great mood, everyone! The slope of the linear regression channel on the M15 chart is upward. For me, this is a sign that there is a strong buyer in the market putting pressure on sellers, so there is room for buying. There is a possibility that I might be wrong, but considering selling in my case would mean going against the market, which can lead to large losses compared to entering long in the direction of the trend. Therefore, by placing a stop, you can always limit your loss if the market moves against the trading plan; the stop is not above the entry point at 0.81829. In my case, I will wait until the price drops to the lower part of the channel, to the level of 0.81829. Around this level I will look for a buy entry to work out the upper target at 0.82193. From the upper edge of the channel, one should expect selling. As for new buys, it is better to wait until a correction forms.
The linear regression channel on the H1 chart is pointing north. The channel on M15 is directed the same way. The movement of both channels without divergence highlights an uptrend on this instrument. For me, buys are important right now. From the lower part of the channel, near the level of 0.81614, I am considering an entry point. Presumably, the market is growing towards 0.82111 – this is the upper boundary of the channel, where market slowing will occur. If the market stays near the upper boundary of the channel for a long time, most likely we should expect a drop to the lower part of the channel. I will skip the downward move to the lower part without entering shorts. Selling would mean going against the trend, and what if there is no pullback and growth continues. That’s why I use the method of entering the market on a pullback. I believe this way I will be acting together with a strong player who will be pushing the price up, squeezing the bears. The chances of moving up in this case increase many times over.
