USDCHF SHORT
USDCHF short:
This trade is based on trend following, originating from a significant daily horizontal resistance level. We observed a candle reaction, indicating rejection at the same daily timeframe. Moving to lower time frames, specifically the hourly charts, we can identify a rising channel and a double top formation at the aforementioned daily resistance level. Both patterns have now broken below their respective neckline levels, and currently, the price is consolidating around our neckline area.
Trade Details:
- ENTRY: 0.8976
- STOP LOSS: 0.9005
- TAKE PROFITS: 0.8950 & 0.8913
This trade is based on trend following, originating from a significant daily horizontal resistance level. We observed a candle reaction, indicating rejection at the same daily timeframe. Moving to lower time frames, specifically the hourly charts, we can identify a rising channel and a double top formation at the aforementioned daily resistance level. Both patterns have now broken below their respective neckline levels, and currently, the price is consolidating around our neckline area.
Trade Details:
- ENTRY: 0.8976
- STOP LOSS: 0.9005
- TAKE PROFITS: 0.8950 & 0.8913
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