USDCHF SHORT

USDCHF Bearish Bat pattern

Profit Targets:
* Entry (0.886 FIB X to A): $0.85514
* Stop Loss (X): $0.85798
* 1TP (First Target Price): $0.845
* 2TP (Second Target Price): $0.8416

Risk Management: My strategy includes a structured plan for realizing profits at predetermined levels, which aids in managing risks and ensuring gains.

Personal Opinion: This is my viewpoint. I recommend others to consider taking profits in a staggered manner, according to the levels I have outlined.
Please note that this is a subjective analysis. Market conditions are prone to change unpredictably.

Traders should conduct their research and evaluate their risk tolerance before implementing any trading strategy.

Comment:

DXY appears bullish; on the 4-hour chart, we observe a 'three white soldiers' pattern, indicating a bullish trend for the dollar index. Furthermore, the price has broken out of the falling wedge pattern. If we close above the trend line today, we are likely to head back toward a high of $104.5

USDCHF I closed 50% of my position when the price dropped to $0.848 just in case the stop loss was triggered

Comment:

DXY is creating a diamond pattern, which suggests that if the price closes below 102.3, it could drop towards 101.15. Conversely, if the price closes above 102.65, it has the potential to reach 103.7

USDCHF the price will move based on DXY within 8h

Trade closed: stop reached:

As I said DXY broke 102,3 and it's heading toward 103.7

It is good that we took 50% profit when the price dropped to $0.848