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RITIKAGARG31

USDCHF- completion of “W” pattern supports a bearish move

Short
U.S. Dollar / Swiss Franc (FX:USDCHF)  
RITIKAGARG31 Updated   
FX:USDCHF   U.S. Dollar / Swiss Franc
Chart Patterns
5
1
chartpattern

The USDCHF pair structured a “W” pattern on four hourly chart. After completing the pattern, the prices started its southward journey similar to what happens after the formation of “W” pattern. During its journey, the price took a small pullback towards the key resistance area of 0.9940-50. But the prices are expected to soon continue its southward journey. The traders are advised to enter a short position as soon as the USDCHF prices takes a pullback from 0.9940. First target for the short trade can be placed at 0.9900 and the second target can be at 0.9865.
The stop loss can be placed at 0.9980.

Trade closed: target reached
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