I’ve been keeping an eye on the USDCHF for a while.
Price has taken out the previous swing high and has now broken a supporting trendline.
This is the confirmation I needed to take a short against the Weekly Bias on this pair.
The daily looks prime for a correction to the extension targets.(see green arrows) before the BULLS re-enter long.
USD/CHF - SHORT
Swing trade
Limit order
Sell: 9922-9935
Stop: 9981
Target: 9972 then 9926
R:R 2:81
Entry on the 4hr chart is indicated by the overlapping upward and downward sloping trendlines. The USDCHF is a tricky pair to trade and can be volatile this is why your stop needs to remain above the level suggested.
Price has taken out the previous swing high and has now broken a supporting trendline.
This is the confirmation I needed to take a short against the Weekly Bias on this pair.
The daily looks prime for a correction to the extension targets.(see green arrows) before the BULLS re-enter long.
USD/CHF - SHORT
Swing trade
Limit order
Sell: 9922-9935
Stop: 9981
Target: 9972 then 9926
R:R 2:81
Entry on the 4hr chart is indicated by the overlapping upward and downward sloping trendlines. The USDCHF is a tricky pair to trade and can be volatile this is why your stop needs to remain above the level suggested.
Comment:
Sorry targets are 9872 then 9826