Bias Bearish
Fundamental Analysis
USD is neutral position
CHF is still acting bullish
Price Action:
Price breakout of H4 SR level forming a new lower low. This has shown a strength towards downside. It has two bearish trendline waiting for it to react. As currently market is volatile based on H4 tf. Price is likely to retrace back into confluence Broken H4 & H1 SR level and head lower.
Confluence:
Higher TF (W/D/H4) - Broken SR level H4
Lower TF (H1/M30/M15) - Broken SR level H1
Set up:
Short entry at H1 broken S/R level.
SL is 2x ATR (20)
TP is at daily swing low SR level R:R 1:9
Fundamental Analysis
USD is neutral position
CHF is still acting bullish
Price Action:
Price breakout of H4 SR level forming a new lower low. This has shown a strength towards downside. It has two bearish trendline waiting for it to react. As currently market is volatile based on H4 tf. Price is likely to retrace back into confluence Broken H4 & H1 SR level and head lower.
Confluence:
Higher TF (W/D/H4) - Broken SR level H4
Lower TF (H1/M30/M15) - Broken SR level H1
Set up:
Short entry at H1 broken S/R level.
SL is 2x ATR (20)
TP is at daily swing low SR level R:R 1:9
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.
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.