MEX_Exchange
Short

USDCHF testing major resistance, prepare to sell

FX:USDCHF   US-Dollar / Schweizer Franken
Sell below 0.9446. Stop loss at 0.9572. Take profit at 0.9264.
Reason for the trading strategy (technically):
Price is testing major resistance at 0.9446 (Multiple Fibonacci retracements, horizontal pullback resistance, bearish ichimoku cloud ) and we expect a strong reaction from here for price to drop further to 0.9264 support ( Fibonacci extension , horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 98% where a corresponding reaction could occur.

thank you
Antworten
Look at the one hour time frame please, what is going on? if that closes like a inverted hammer it will go down?
Antworten
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