MI5
Short

EURCHF - Sell Opportunity With Good Risk:Reward

FX:EURCHF   Euro / Swiss Franc
EURCHF is currently consolidating near a major resistance zone . I'm looking forward to entering into a short trade after some confirmation. This trade should give a decent R:R once it meets the sell criteria.

The confirmation I'm looking for is 4-hour candle close below the 20 and 50 EMA . If the candle closed below the current support near 1.10339, that'd be an even better signal.

As a side note, I've noticed some correlation between the USDCHF and EURCHF on lower timeframes. So, the EURCHF might drop with USDCHF after today's data. But so for, this is my theory, I haven't fact-checked the correlation yet.

Feel free to leave a like and your thoughts.
Comment: TP 1 reached
Trade closed: target reached: TP 2 reached

Comments

I have this overall TA on in from a MTA perpsective
Reply
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