On the 1hr chart it looks like CHFHUF is forming a Head and Shoulder pattern, what would confirm a reversal at the resistance shown on the right daily chart .
A strong resistance on the right daily is tested with the head of this potentially H&S .
The combination of these makes this a great R:R trade to try, even if this is not forming an H&S there is still this strong resistance for backup.
Thanks for reading and feedback is welcome!
Wesley
A strong resistance on the right daily is tested with the head of this potentially H&S .
The combination of these makes this a great R:R trade to try, even if this is not forming an H&S there is still this strong resistance for backup.
Thanks for reading and feedback is welcome!
Wesley
Note
Back at a point that became a support for the shorter term.The H&S idea is out, a double top is possible but then we are at the support at the moment.
Note
I’m using a trailing stop for now.Stop to entry is also possible.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.