USDCHF - Potential Short-term Bearish Shift 1st February
Updated
On USDCHF I'm aiming for some retracements Lower. If you go through your UC chart, mark up a vertical line on every 1st day of each month... You'll see a shift in interest and direction.
We are overextended to the upside as I'm posting this analysis, and we are filling in FVG to the top side. At this point, we could fill in the entire FVG OR Sweep the BSL Equal Highs above. Whatever the case may be, if we are still overextended, id like to see some shorts on UC.
Price has also taken out a massive Retail Trendline, where lots of positions got liquidated (see picture below):
We also have a W formation on the bottom, and usually, when price creates this pattern, price usually retraces towards its neckline.
We are overextended to the upside as I'm posting this analysis, and we are filling in FVG to the top side. At this point, we could fill in the entire FVG OR Sweep the BSL Equal Highs above. Whatever the case may be, if we are still overextended, id like to see some shorts on UC.
Price has also taken out a massive Retail Trendline, where lots of positions got liquidated (see picture below):
We also have a W formation on the bottom, and usually, when price creates this pattern, price usually retraces towards its neckline.
Trade active
... aaand she's melting :)Trade closed: target reached
Another banger. Worked out to the T.hope you capitalized !
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.