USD/CHF
Updated
I believe that we are looking at a bearish trend. The spinning tops at the top of the parallel channel suggest a change in direction. This is also the 61.8% retrace from the fib ABC formation.
We are currently sitting on a weekly resistance point so If we can get a close below the green rectangle I will be placing a trade.
Target one will be -27 of the fib extension, and if it continues to show strong downside potential hopefully we can reach the -61.8 extension.
We are currently sitting on a weekly resistance point so If we can get a close below the green rectangle I will be placing a trade.
Target one will be -27 of the fib extension, and if it continues to show strong downside potential hopefully we can reach the -61.8 extension.
Note
Still managed to gains one nice profit off this before the major trend line break
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