USDCHF Sell opportunity on perfect symmetry.
The USDCHF pair broke this week below the 1D MA200 (orange trend-line) for the firs time since March 14 and is extending a downtrend that started on the May 01 2024 Top, a rejection on the 1W MA200 (red trend-line).
The last time we had a similar (near) rejection was on the October 03 2023 Top, which also initiated a downtrend. That structure targeted the 1.5 and 2.5 Fibonacci extension levels in succession.
With the 1D RSI sequences among the two fractals showing tight symmetry, we see now the final sell opportunity to target the 2.5 Fib. Our Target is at 0.87000 (within Support 1 and Fib 2.5).
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The last time we had a similar (near) rejection was on the October 03 2023 Top, which also initiated a downtrend. That structure targeted the 1.5 and 2.5 Fibonacci extension levels in succession.
With the 1D RSI sequences among the two fractals showing tight symmetry, we see now the final sell opportunity to target the 2.5 Fib. Our Target is at 0.87000 (within Support 1 and Fib 2.5).
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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