As shown in the chart
4H Chart Explanation: - Price broke the Ascending Trendline. - Price was on a Bearish Corrective Structure that was broken after bouncing on the Resistance Zone. - Price should continue its down move from here, with a main target on the Major Support Zone. - We are looking for sell setups on lower timeframes. Weekly Vision: Daily Vision: Updates coming soon!
Hi traders, here're 4 reasons you should consider taking this very nice setup in USD/CHF. As always, let me know in your comments what you think. 1. Bearish wedge breakout to the downside, projecting a profit target to the lower 0.96xx levels 2. Retracement at the 61.8% Fib level 3. Weak US data lately, CHF possibly gaining from Brexit worries 4. Bearish RSI...
-PRICE HELD UP AT MONTHLY SUPPORT LEADING TO SIDEWAYS MOVEMENT -PRICE FINALLY CLOSES ABOVE EMA CREATING A WEEKLY HAMMER -LOWER TIMEFRAME INVERSE HEAD AND SHOULDERS -DXY VERY BEARISH
Catching the 5th wave and entry is based on the Triangle Pattern The break was based on Australian Employment Change (Although it was negative - 14.7k)
Bias: Short Butterfly Pattern