USDCHF - Divergence and broken support
Updated
Price has been bouncing off the 0.9880 area for the last couple of weeks now. Finally, it has broken through. Also present is some divergence which can be seen using the MACD indicator and also the "rounding" of price.
I have entered at the 0.9888 and am looking for a nice move downwards. My stop loss is just above the previous S/R area. If price pushes above that area it is likely to keep going higher.
Reasons for short:
- Divergence
- Support and resistance
- Trend Line break
- Previous strong bearish move
I have entered at the 0.9888 and am looking for a nice move downwards. My stop loss is just above the previous S/R area. If price pushes above that area it is likely to keep going higher.
Reasons for short:
- Divergence
- Support and resistance
- Trend Line break
- Previous strong bearish move
Trade active
Entry @ 0.9888SL @ 0.9905
TP @ 0.9800
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