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U.S. Dollar / Swiss Franc
Short
Updated

Bearish Butterfly @USDCHF H4

341
Bearish Butterfly pattern has formed in USDCHF H4 chart.The price is also within a channel and is protected by a resistance line.RSI Divergence is also shown.Stop loss is placed in the next resistance line.Target 1 is placed at B point, and target 2 at a minor resistance point.If price reverses,look out for taking profits in case price starts to reverse at 38.2 and 61.8 fib levels of XA leg of the move.
Trade closed: stop reached
drin
Bearish PatternsButterflychfHarmonic PatternsParallel ChannelSELLshortstructureSupport and ResistanceTrend LinesUSDUSDCHF

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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Bearish PatternsButterflychfHarmonic PatternsParallel ChannelSELLshortstructureSupport and ResistanceTrend LinesUSDUSDCHF
drin

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.