Convergence of resistance for USDCHF
Updated
Hi pros!
as we can see the bear flag formed for some days, price break down and pullback to it.
With the fact that this is the potential best opportunity to enter to enjoy the trade of the bear flag, we also have a confirmation : the confluence of resistance
based on : trendline, 0.618 fib and structure
results: high probability to win
R:R is decent for the first TP and high for the second tps
Aiming for the levels drawn in the charts and final target is blue box which is 0.888 fib of the all retracement move.
as we can see the bear flag formed for some days, price break down and pullback to it.
With the fact that this is the potential best opportunity to enter to enjoy the trade of the bear flag, we also have a confirmation : the confluence of resistance
based on : trendline, 0.618 fib and structure
results: high probability to win
R:R is decent for the first TP and high for the second tps
Aiming for the levels drawn in the charts and final target is blue box which is 0.888 fib of the all retracement move.
Trade active
Note
price can obviously fall more than the blue box , but those levels at to look because they are supportmultiple entries will be possible
Note
are*Trade closed: stop reached
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