Good morning everyone,
Here's my idea for USD/CHF
We've got a nice bearish pin bar at horizontal and diagonal resistance. The price makes fake breakout above 50SMA and 23,2% fibonacci retracement which is also a sign of a bearish strength.
On the smaller time frames we can see a break below , close below from the bottom side of a channel.
If the price action makes a break above, close aove the resistance lines, then we can see another up move, so make sure you place your stops around 0,9740.
The momentum RR is good.
Trade wisely,
Daniel
Here's my idea for USD/CHF
We've got a nice bearish pin bar at horizontal and diagonal resistance. The price makes fake breakout above 50SMA and 23,2% fibonacci retracement which is also a sign of a bearish strength.
On the smaller time frames we can see a break below , close below from the bottom side of a channel.
If the price action makes a break above, close aove the resistance lines, then we can see another up move, so make sure you place your stops around 0,9740.
The momentum RR is good.
Trade wisely,
Daniel
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HnS formed on lower time frame.
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Retail sales -0,2% Retail Sales as expected from 0,5%; USD drops.