Potential Short Trade for USDCHF

29 thg 1, 2020

Currently we are on an ascending channel pattern. The price is reaching the top of the channel and currently at a minor resistance. In addition, we can also notice a RSI divergence on the 1H chart. With these patterns in place, i believe that a downward movement in the short term is highly probably. My TP level will be at the trendline of the ascending channel with SL slightly higher than the trendline of the ascending channel. This is a short term trade

Disclaimer: I do not provide any investment advice. I merely state my own opinion and thoughts on the currency pair.

However, i do welcome any constructive comments. Thank you