USDCHF - Falling towards Support - Indicators are confirming
Updated
Hi Traders!
As you can see, the price is in a Ranging Market.
The last swing was the Up-Movement towards the Resistance at 0.97800.
The market is, since then, moving downwards.
As you can see in the chart, the market is moving in a wedge.
A wedge occurs when a trendline is coming from a above and another from the downside.
The idea is to trade the Breakout of the wedge.
Our target is the Support of the Ranging Market on the Daily Timeframe.
Some of the technical Indicators show also bearish pressure:
The SL is above the last (tiny) Resistance.
Our RTR-ratio is 1 to 2.02.
We recommend to trade the Breakout with a confirmation.
Thanks and successful Trading :)!
As you can see, the price is in a Ranging Market.
The last swing was the Up-Movement towards the Resistance at 0.97800.
The market is, since then, moving downwards.
As you can see in the chart, the market is moving in a wedge.
A wedge occurs when a trendline is coming from a above and another from the downside.
The idea is to trade the Breakout of the wedge.
Our target is the Support of the Ranging Market on the Daily Timeframe.
Some of the technical Indicators show also bearish pressure:
- The Parabolic SAR
It just made the third bearish dot.
If the market is moving under the dots of the Parabolic, this mostly means that the Sellers are in control. - The MACD Crossover
As you can see, the MAs of the MACD-Indicator just crossed Bearish.
That's by the way also the reason, why the bar is red now.
The SL is above the last (tiny) Resistance.
Our RTR-ratio is 1 to 2.02.
We recommend to trade the Breakout with a confirmation.
Thanks and successful Trading :)!
Note
Here is the Special RED BOX, but in big:
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.