USDCHF - Short continuation
Updated
After a long downtrend leg the price started to correct.
Now the price is in a important zone:
Considering all the conditional above there is a high possibility of a continuation of bear market
Waiting for a bear candle breaking the previous lowest
Now the price is in a important zone:
- Retraction of FIBO
- Previous support now is a resistence
- Weekly time frame in a bear market (confirming the downtrend)
- Previous candle closed with a long tail
- Price is between MM20 and MM50 pointed to downwards
Considering all the conditional above there is a high possibility of a continuation of bear market
Waiting for a bear candle breaking the previous lowest
Note
The price hits MM50, the idea still the same!Next candle can show us a continuation of a downtrend or long leg even stronger.
Let's wait!
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