USD/CHF Bearish Max Bat Pattern
A short opportunity for USD/CHF, however, be patient and
wait for price to get rejected at the 1.000 level and close
below 0.9887 at least before entering a short trade. It is very
likely for price to continue higher before we see a
bearish retracement. This pattern is valid as long as price
does not close above 1.0227.
Due to the NFP data which will be released tomorrow I
would until next week before entering a short trade. Should
price rally to 1.0189/1.0227 and retrace from there then
I will update the entry levels accordingly.
Trade 1 (RvR ratio 3.25 using ATR 2 as S/L)
Entry 1: Close below 0.9887
Entry 2: Close below 0.9809 (Conservative entry)
S/L 1: 1.0007
S/L 2: 0.9887
T/P 1: .9690
T/P 2: 0.9594
T/P 3: 0.9498
Trade 2 (RvR ratio 2:1)
Entry: Close below and rejection 0.9498
S/L: 0.9653
T/P 4: 0.9361
T/P 5: 0.9188
As always, adjust your stop/loss once in profit as well as
adjusting stop/loss to your risk management profile.
Happy trading
A short opportunity for USD/CHF, however, be patient and
wait for price to get rejected at the 1.000 level and close
below 0.9887 at least before entering a short trade. It is very
likely for price to continue higher before we see a
bearish retracement. This pattern is valid as long as price
does not close above 1.0227.
Due to the NFP data which will be released tomorrow I
would until next week before entering a short trade. Should
price rally to 1.0189/1.0227 and retrace from there then
I will update the entry levels accordingly.
Trade 1 (RvR ratio 3.25 using ATR 2 as S/L)
Entry 1: Close below 0.9887
Entry 2: Close below 0.9809 (Conservative entry)
S/L 1: 1.0007
S/L 2: 0.9887
T/P 1: .9690
T/P 2: 0.9594
T/P 3: 0.9498
Trade 2 (RvR ratio 2:1)
Entry: Close below and rejection 0.9498
S/L: 0.9653
T/P 4: 0.9361
T/P 5: 0.9188
As always, adjust your stop/loss once in profit as well as
adjusting stop/loss to your risk management profile.
Happy trading
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.