USDCHF Reaches Resistance Zone Possible go SHORT
Updated
As we can see in this pair, the price tested several times the resistance level identified and fell several times. This level already has some time, so we can consider it as a fairly solid level. After the sharp rise we observed in the chart in recent days we expect a price correction down to the trendline. The RSI has overbought so we have one more signal to sell. We are updating this pair as the price moves.
Trade active
We are now facing a reversal candlestick on the H4, '' hanging man '', which means that the trend may change from bullish to bearish. We should open a SHORT position now with a SL at 20 pips. TP1 at 1.01350 (+20 pips) TP2 at 1.01150 (+40 pips) TP3 at 1.00850 (+70 pips).Note
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