NZDCHF - Entering in Bearish TrendThis pair has shown interesting characteristics and the connection this chart has shown between time frames of 1H, 30m and 15m. I noticed prominent divergence on a 15m time frame which faded away on 30m and 1H time frame. At 1H time frame I managed to plot an ABCD Bearish Reversal Harmonic Pattern and the beauty of harmonic became prominent when the PRZ (Point D) was at the exactly same point where the divergence at a smaller time frame (15m) emerged. Moreover, the chart also made a Double Top reversal pattern which indicated a downward trend. So, on the basis of pure technical analysis and doing it on different time frames to justify the chart behaviour, I placed a pending order of Sell Stop.
The Signal is:
EP: 0.54751
SL: 0.54878
TP: 0.54620
RR: 2%
Lots: 1.44