#EURCHF 4HEURCHF (4H Timeframe) Analysis
Market Structure:
The price is forming a rising wedge pattern, which is a bearish reversal setup. This pattern indicates weakening bullish momentum as the price narrows toward the upper boundary. A breakout below the wedge support suggests the potential for a bearish move.
Forecast:
A sell opportunity is anticipated if the price breaks below the rising wedge support, signaling the start of a downtrend.
Key Levels to Watch:
- Entry Zone: After the price breaks below the wedge support and confirms the breakout with a retest.
- Risk Management:
- Stop Loss: Placed above the recent swing high or the upper boundary of the wedge.
- Take Profit: Target key support levels below or Fibonacci retracement levels for potential downside movement.
Market Sentiment:
The rising wedge pattern suggests bearish sentiment as buying momentum weakens. Waiting for a confirmed breakout and retest ensures a more strategic entry aligned with market direction.
