USDCHF(1H): POTENTIAL DOWNTREND
Overview:
The triple top reversal tells us that buyers are getting exhausted or they aren’t aggressive enough to push the price higher of the resistance 1.01000.
Signal/Entry confirmation:
We shall wait for the price to break through the support 1.00500 for a signal and go SHORT after a retest of the zone around our new resistance @ 1.00500.
Speculation:
Potential TP @ 0.99900 (57pips) and SL @ 1.00730 (25pips)
The triple top reversal tells us that buyers are getting exhausted or they aren’t aggressive enough to push the price higher of the resistance 1.01000.
Signal/Entry confirmation:
We shall wait for the price to break through the support 1.00500 for a signal and go SHORT after a retest of the zone around our new resistance @ 1.00500.
Speculation:
Potential TP @ 0.99900 (57pips) and SL @ 1.00730 (25pips)
Trade smart. Trade consciously
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