usdchf sell
Reasoning for sell
1) Price has failed to break resistance zone and has shown it is a strong resistance zone as wicks have entered and failed to break.
2) Trend line is downwards with more than 2 wicks confirming the trend
3) Fib point 0.618 is usually a retracement level where price will hit and retrace
4) TP2 has shown that price has hit and struggled to progress more downwards which is why i wil be taking profit here
5) rsi has also shown that a change is direction is imminent
I will be holding my sell to tp2
SL: 0.93815
1) Price has failed to break resistance zone and has shown it is a strong resistance zone as wicks have entered and failed to break.
2) Trend line is downwards with more than 2 wicks confirming the trend
3) Fib point 0.618 is usually a retracement level where price will hit and retrace
4) TP2 has shown that price has hit and struggled to progress more downwards which is why i wil be taking profit here
5) rsi has also shown that a change is direction is imminent
I will be holding my sell to tp2
SL: 0.93815
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.