USD/CHF getting close to the end of ascending triangle
Updated
As according to my previous analysis of this pair I think we've a pretty clear indication that this pair will face a downturn for the next 3-8 weeks. The ascending triangle on the daily strengthens this belief by coming to a point where we might see a break-out in the next 3-7 trading days.
So given we're facing a long way down, I'm currently looking for a nice entry point:
- An optimal entry would be at the red resistance line on top of the triangle - might be too late.
- Instead, shorting at the top of the lesser triangle would give a lot of leeway for holding this trade for a long time.
- Stochastic is turning up again, so some indication of a last upturn before heading down, starting big next week.
Best of luck!
So given we're facing a long way down, I'm currently looking for a nice entry point:
- An optimal entry would be at the red resistance line on top of the triangle - might be too late.
- Instead, shorting at the top of the lesser triangle would give a lot of leeway for holding this trade for a long time.
- Stochastic is turning up again, so some indication of a last upturn before heading down, starting big next week.
Best of luck!
Note
Not so bad this far! I stlll think we're returning to the thick red line before dropping a bit more. What's ambiguous is the dollar... Trump wants it down but everything else points up... I don't know, but technically we're looking at a retrace possibility.Note
Let's see if we can get a proper drop now...
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.