USD/CHF 4H - With this market we are wanting to see price break down also, we have seen that price has broken structure to the downside on the extreme higher timeframes. Price has recently come back up to test the neckline it broke.
It just so happens that there is also a FVG here, giving us multiple pieces of confluence suggest a potential area of interest for price to come and reverse from.
Now that we have seen price trade into this area, its important we wait for confirmation of a reversal as well as entry confirmation before we look to execute any short positions in the market.
Once we see price break the last protected low, we will then have the confirmation needed to suggest a reversal in this current trend, confirming the start of the next impulse to the downside. I will update you all when I have something.
It just so happens that there is also a FVG here, giving us multiple pieces of confluence suggest a potential area of interest for price to come and reverse from.
Now that we have seen price trade into this area, its important we wait for confirmation of a reversal as well as entry confirmation before we look to execute any short positions in the market.
Once we see price break the last protected low, we will then have the confirmation needed to suggest a reversal in this current trend, confirming the start of the next impulse to the downside. I will update you all when I have something.
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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.