Normally, this would make a bounce and go to the top of the channel. However, there is a hitch: the market has been closed for 1.5 days. So, we are missing a lot of bars on the chart. So, by the time market opens, the move may be over. RSI has divergence, bullish.
The EURCHF is showing exhaustion from the recent up move. The move is slowing and RSI and stochastics show clear divergence.
Short now at the previous resistance (green horizontal line); And stop is above the previous high. The Risk Reward is exceptional!
Manage your trade by using the Risk Reward of 2% and your gain is multiples of the 2%. Use sound money management.
We have a swing and it is about to make a 618 retrace.
take profit at 108.60.
It is a beautiful swing and it will make a 618 retrace soon, as you see in the chart. When it all plays out the way it is shown, just buy it at 618 and take profit at 108.60
cheers.
