Hey guys,
this is a counter trend trade on USDCHF, so do not take it if it doesn't respect your own rules, it respects mine so i've decided to share with you. The yellow box represents a former daily level of structure, that acted as resistance in the recent past. As of now, price is finding troubles breaking through it, even if it seems to be a strong move. RSI is overnought on the 4HR chart, and we can see a divergence here on the hourly chart, along with an imperfect double top followed by an engulfing that broke a minor level of structure, i'm waiting for a small pullback in order to enter. Stops above the highs, targets with structure.
If you want to share your view, or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
this is a counter trend trade on USDCHF, so do not take it if it doesn't respect your own rules, it respects mine so i've decided to share with you. The yellow box represents a former daily level of structure, that acted as resistance in the recent past. As of now, price is finding troubles breaking through it, even if it seems to be a strong move. RSI is overnought on the 4HR chart, and we can see a divergence here on the hourly chart, along with an imperfect double top followed by an engulfing that broke a minor level of structure, i'm waiting for a small pullback in order to enter. Stops above the highs, targets with structure.
If you want to share your view, or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Trade closed: target reached:
First target hit! Stops moved to breakeven.
Trade closed: target reached:
Second target hit! Great!