Idea from May 6: USDCHF→ Bearish Pennant + Alligator signal
Hello traders,
As the new week begins I see a great signal of the USDCHF pair today.
After the downward movement of the currency pair in the past week, the price found slight support at the levels around 0.9030, after which we see a slight upward correction forming. The Alligator's lips played the role of resistance, and the price again turned in its downward direction. On closer inspection, we see that a Bearish Pennant figure has formed on the 4-hour chart. This also coincides with a very good signal in my Alligator strategy - the signal fulfilling all conditions and entry requirements of my strategy.
I think the USDCHF will fall and reach the first target very quickly (the 0.236 level of the Fibonacci Extension).
A second target is the 0.618 level or the Fibonacci extension
You can set your SL at the resistance zone 0.9120
As the new week begins I see a great signal of the USDCHF pair today.
After the downward movement of the currency pair in the past week, the price found slight support at the levels around 0.9030, after which we see a slight upward correction forming. The Alligator's lips played the role of resistance, and the price again turned in its downward direction. On closer inspection, we see that a Bearish Pennant figure has formed on the 4-hour chart. This also coincides with a very good signal in my Alligator strategy - the signal fulfilling all conditions and entry requirements of my strategy.
I think the USDCHF will fall and reach the first target very quickly (the 0.236 level of the Fibonacci Extension).
A second target is the 0.618 level or the Fibonacci extension
You can set your SL at the resistance zone 0.9120