USD/CHF getting close to the end of ascending triangle
As according to my previous analysis of this pair I think we've a pretty clear indication that this pair will face a downturn for the next 3-8 weeks. The ascending triangle on the daily strengthens this belief by coming to a point where we might see a break-out in the next 3-7 trading days.
So given we're facing a long way down, I'm currently looking for a nice entry point:
- An optimal entry would be at the red resistance line on top of the triangle - might be too late.
- Instead, shorting at the top of the lesser triangle would give a lot of leeway for holding this trade for a long time.
- Stochastic is turning up again, so some indication of a last upturn before heading down, starting big next week.
Best of luck!
So given we're facing a long way down, I'm currently looking for a nice entry point:
- An optimal entry would be at the red resistance line on top of the triangle - might be too late.
- Instead, shorting at the top of the lesser triangle would give a lot of leeway for holding this trade for a long time.
- Stochastic is turning up again, so some indication of a last upturn before heading down, starting big next week.
Best of luck!
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Not so bad this far! I stlll think we're returning to the thick red line before dropping a bit more. What's ambiguous is the dollar... Trump wants it down but everything else points up... I don't know, but technically we're looking at a retrace possibility.
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Let's see if we can get a proper drop now...