USDCHF is likely to make a Bearish Reversal on 1H and 4H TFs
The pair is in uptrend and has been printing HHs and HLs on 1H and 4H timeframes. However, it has recently shown a bearish divergence on RSI on both timeframes. Using the principles of DOW theory and timeframe confluence, I have drawn a short bias and established my short entry on break below last HL, as marked on the chart in BLUE. A RRR of 1:1 has been maintained for the position, with TP and SL marked on the chart.
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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.