weekendanalyst

EURCHF | Short D1 | Market Exec | Building Momentum for Risk Off

Short
FX:EURCHF   Euro / Swiss Franc
Technical Confluences for Trade:
- Stochastics are in Overbought Conditions on D1, H4 and H1 time-frames
- Stochastics are also Overbought in multiple Cross-CHF pairs and even on USDCHF pair.
- Price action is close to multiple Supply zones
- Price action is close to multiple Resistance Trendlines as well
- Targeting the 50% Fibo retracement for this trade

Fundamental Confluences for Trade:
- There seems to be some disconnect between asset classes and with everyone already so 'risk-on', the risk-off build up momentum is ripe for the taking.

Suggested Trade:
Entry @ Area of Interest 0.9830 - 0.9870
SL @ 0.9942
TP 1 @ 0.9720 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 0.9598
Risk-to-Reward @ Approx. 2.59 (Depending on Entry Level)

________________________________

Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated!

If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies.

If you want something analyzed, do drop me a DM. :D

________________________________

Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks.

Any websites / brokers / applications suggested here are also provided as informational purpose only.


________________________________
Comment:
TP 1 achieved. Take profit on half the position and move the existing SL levels to Breakeven.

Enjoy the remaining trade risk-free. :D
Trade closed: target reached:
TP 2 achieved.

Looking forward to the next trade. :D

Please support my initiative by trading:
FX @ GoMarkets bit.ly/GoMarketsFX
Crypto @ HTX bit.ly/HTXExchange

Twitter Follow @ x.com/weekendanalyst
Twitter Community @ bit.ly/TweetAway

DM me to analyze any pair. :D
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.