New analysis for the USDCHF
Updated
In my new analysis of the USDCHF i have found a trading opportunity that will fit into my plan. Doing my top down analysis i realized that on the daily chart we have recently put in a break and close below a previous support level. In my humble opinion this now puts us in a bearish rotation. Dropping down to the 4hr time frame ( trading time frame ) i could not help but notice that we have put in a nice head and shoulders pattern. So i am waiting for the close of this candle to show that we have broke the neckline of the head and shoulders, then i will be waiting for a rally back up to the neckline to give me a good risk to reward before entering this trade. If you like my analysis then check out my YOUTUBE channel for free lessons and live trading in the markets.
LINK: youtube.com/channel/UCGL9ubdGcvZh_dvSV2z1hoQ
LINK: youtube.com/channel/UCGL9ubdGcvZh_dvSV2z1hoQ
Trade active
ENTERED the trade at the right shoulder with a great risk to reward and bigger targets. we will see how it plays out tonight and into tommorow
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.