USDCHF Short 125 pipsHello Traders,
A breakout was seen in USDCHF last week and a retracement has been made. An entry opportunity can be seen as a downwards momentum is developing with 55 pips stop loss around a previously identified key level and a take profit of 125 pips take profit just around the previous swing low. This trade can be used as a hedge on the previously posted EURUSD trade.
Have a lovely day!
Riverfront Capital
Usdchfsetup
USDCHF WAITING FOR THE BIG MOVESUSDCHF
- Price is correcting inside this channel since August with a clean behaviour.
- Price is currently making a fourth touch in the supportive trendline and failing to reject impulsively (as it has happened before).
- The price is located inside of a large conciliation box which ends up indicating our last support level.
- We are looking for long entries in the 1H/2H/4H timeframes if we find a good reversal pattern.
- We would only enter in short positions if we have an impulsive break of our conciliation box. Keep in mind that a break and re-test is also valid for short positions.
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USDCHFDollar against the Swiss Frank is currently on a strong support level, it may bounce to be a long or it may break the support and go on a short, in anyways, I posted this just to let other traders know that they should put on eye where chf goes next week, probably we may consider a trading pair for next week.
Hope everyone had nice profitable week and wish all is well with you guys.
Have a nice weekend.