Flipping the Franc: Scalp shorting USD/CHF
We are short USDCHF, 0.89225 entry
As always, we like to keep it clean and simple, with technicals and analysis that's easy to see and understand. Let's get into it:
- Wave 5 exhaustion on mult timeframes
- Overbought StochRSI on 2h
- Head and shoulders pattern on 4h (a classic bearish reversal signal)
We see a short-term reversal, looking to scalp for 10 or so pips.
As you may know, the Swiss Franc often strengthens during periods of global economic uncertainty due to its safe-haven status. If current geopolitical tensions or economic concerns persist, investors may flock to the CHF, leading to a depreciation of the USD/CHF pair.
Be alert.
Trade green.
