USDCHF resistance at 0.9950

FX:USDCHF   Đô la Mỹ/Franc Thụy Sỹ
USDCHF             is at a resistance level (0.9950) - highs in May and July
Price seems to be stuck here for the 4th day today

Took a small short position.
There is a potential bearish Shark pattern completing at 0.9955/57

H4 AB=CD pattern completing at 0.9988, so stops has to go above this levels
H4 bearish divergence on the RSI - indicating an exhaustion move
Giao dịch bắt đầu: My initial position took a little scare as price spiked up to completed the ABCD. Took another short at 0.9988 at the ABCD completion. Now holding a full position short.
Giao dịch bắt đầu: Finally see this drop in the last few hours. Fingers crossed and shooting for the 0.9918 level
Bình luận: Still in the trade, nothing is giving me the indication to exit the trade. Stops still above the 1.0 handle at 1.0008. Can consider to tighten stops to 0.9980
Giao dịch bắt đầu: Price finally made a move down before the week ended on Friday. Shifted my SL to break even (now approx 60pips profits). Now I see a some retracement up, would not be surprised if it goes as high as 0.9913
Giao dịch bắt đầu: Tightened SL to 0.9918 (locking in at least +33pips), target remains at 0.9718. I would like to see price breaking the immediate support at 0.9857 & 0.9841
Bình luận: Tightened the SL by another 100 pips to 0.9818 (+133pips), target is at the TL support, readjusted TP to 0.9720. Since it is only 14pips away, I might close this trade at anytime.
Tự đóng giao dịch: Missed my targets by 6 pips. H1 RSI showing bullish divergence, I believe there will be some bounce up before this can break below the TL support. Manually closed my trade at 0.9745 (+205pips).
Hi BH, I'm also in this trade. Thanks for sharing your idea here.
Phản hồi
Nice one girisuta. This last 14 pips is so near yet so far. H1 & H4 RSI so OS now, I might just close off the trade and not give back any profits
Phản hồi
Hi BoonHooi,

I am waiting for price to go up a little more on this one before going short I would like it to reach the 1.01000 area to complete my Butterfly pattern at the extremes of the channel on the Daily time frame, and also to see some divergence on RSI. Here is my analyzes below. I might also be wrong since there is a strong resistance on the 1.00000 area which could be a significant area also. Watch my analyzes below.


What do you think?
Good luck with your trade.
Phản hồi
Hi Ibrincat,
Apologies..... scrolled down enough just to update my trades and didn't realised that I had a question here. Will not make this mistake again.
Agree with your Butterfly, it could have gone up to that level before it dropped (we will never know). If it did, I would have already been stopped out.
Phản hồi
lbrincat BoonHooi
Hi BoonHooi,

No worry's it for the delay anyway I am happy for you that the trade turned out to be in your favor and you made some pips :) I will continue to follow you in future. I am currently learning about harmonics and following you will help a lot.

Phản hồi
Great to be of help :)
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