Short
Swiss Franc 2 Possible Bearish Patterns for Short Opportunity
I like this set-up. Factors influencing me are:
Bearish Bat Pattern (Purple)
Bearish Butterfly Pattern (Blue)
RSI Overbought
Negative Divergence in RSI (RSI making higher high while price making lower highs (dark blue lines))
Trendline from the recent highs
I have set a a limit order at 1.0026 for the completion of the bat pattern and will keep it as long as price does not make a new pattern before then. If I decide to take the bearish butterfly I will update.
Bearish Bat Pattern (Purple)
Bearish Butterfly Pattern (Blue)
RSI Overbought
Negative Divergence in RSI (RSI making higher high while price making lower highs (dark blue lines))
Trendline from the recent highs
I have set a a limit order at 1.0026 for the completion of the bat pattern and will keep it as long as price does not make a new pattern before then. If I decide to take the bearish butterfly I will update.
Note
Placed order to short 1 contract at 1.0006 (current price is 0.9984)Order cancelled
Never made it to the entry...too bad
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Related publications
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.