Low risk SHORT setup for USDCHF
PAIR IN FOCUS: USDCHF
ACTION: SHORT
Price has retraced up and retested the recently broken rising trend channel. Expecting further bearish momentum after the retest and rejection.
Looking for a small retrace on this pair for better R:R with a fairly tight Stop Loss at <50 pips (above the retest and rejection candles). This pair will be most influenced by the market's risk sentiment which affects the strength of CHF. Should price melt pass TP Zone (1), it will likely head to Zone 2.
TP Zone (1), TP Zone 2 and Stop Loss have been indicated on the chart.
ACTION: SHORT
Price has retraced up and retested the recently broken rising trend channel. Expecting further bearish momentum after the retest and rejection.
Looking for a small retrace on this pair for better R:R with a fairly tight Stop Loss at <50 pips (above the retest and rejection candles). This pair will be most influenced by the market's risk sentiment which affects the strength of CHF. Should price melt pass TP Zone (1), it will likely head to Zone 2.
TP Zone (1), TP Zone 2 and Stop Loss have been indicated on the chart.
Trade closed: stop reached
Stop Loss reached
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.
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.