USDCNH (H4): Short-Term Play
Updated
USDCNH Timeframe: H4
Direction: Short
Confluences for Trade:
- Around Resistance Line of Previous High
- Stochastic Overbought momentum
- Fundamentally, China has seem to be slowing moving towards a psychological level of 7.00.Currently, the previous high proves to provide some resistance and we can take this as a short term opportunity to short USDCNH.
Suggested Trade:
Entry @ Area of Interest 6.9370 - 6.9550
SL: 6.9670
TP: 6.8736
RR: Approx. 2.11 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Trade active
Trade closed: stop reached
Stopped out, gonna move on to the next trade.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
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