USDCHF 4H - Sell the breakout
Updated
Hi everyone,
In my opinion there is a bear flag formation, which has been bouncing in the edges 5 times, so it is likely to break down. I will wait for a short time frame candle closing below the flag and an increase of volume in order to execute this trade , so there is not an exact short entry point, but would be around 1.00855 .
Short entry: 1.00855 (Aprox.)
TP1: 1.00050
TP2: 0.99591
SL 1.01385
*Not financial advise, just sharing my ideas :)
Feel free to give your feedback/opinion. Thanks for reading!
In my opinion there is a bear flag formation, which has been bouncing in the edges 5 times, so it is likely to break down. I will wait for a short time frame candle closing below the flag and an increase of volume in order to execute this trade , so there is not an exact short entry point, but would be around 1.00855 .
Short entry: 1.00855 (Aprox.)
TP1: 1.00050
TP2: 0.99591
SL 1.01385
*Not financial advise, just sharing my ideas :)
Feel free to give your feedback/opinion. Thanks for reading!
Trade active
Open position at 1.00883Note
Moved SL to breakevenTrade closed manually
I do see some support developing, therefore I close manually the trade and take profit.
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