Hello there, traders!
First of all, there is a nice pin bar on our H4 chart and RSI is overbought. We are at resistance area of 0.9800
Secondly, if we have a look at W chart, the week before drow huge Bearish Engulfing Bar that did not result any momentum continuation yet. The retracement of this week can be a good entry point for taking on board Weekly BEEB with reasonable risk.
Currently I am following two trading plans for USDCHF:
1. The one you see on chart here
2. Weekly timeframe:
Entry @Current price level
SL @0.9960
TP @0.9580
First of all, there is a nice pin bar on our H4 chart and RSI is overbought. We are at resistance area of 0.9800
Secondly, if we have a look at W chart, the week before drow huge Bearish Engulfing Bar that did not result any momentum continuation yet. The retracement of this week can be a good entry point for taking on board Weekly BEEB with reasonable risk.
Currently I am following two trading plans for USDCHF:
1. The one you see on chart here
2. Weekly timeframe:
Entry @Current price level
SL @0.9960
TP @0.9580
Have remaining weekly trade, will see how it goes.
Cheers