USDCHF has a possible sell set up forming. Price is currently in a descending channel and has great momentum to complete the move towards the upper trend line of the channel, which also falls in a PRZ. I will be looking for signs of further divergence, price consolidation and also candle setup to short this pair when it reaches the PRZ. There is also a potential of a completion of a Bearish Harmonic Shark Pattern forming on the H4 time frame. This pair has been added to my watch list. Please see chart for full details. Thanks for checking it out, please comment and like. Best to you and your trading!
Comment:
This pair made great movement to the upside, it has broken above the PRZ, Upper Channel Trend Line and is heading to the next resistance. I would like to see a rejection at the next resistance, price to fall back into the channel and a period of consolidation, candle setup along with some other variables to take a short position in this pair.
Trade active:
Sell stop activated at 1.00088 and price has now broken pass .99634. I will be trailing this pair to ensure it remains a profitable trade. I am looking for price to reach .98831 next then TP.
Trade active:
Trade is still on track, I am taking out partial profits here.
Trade closed manually:
I have taking my final profits here. This trade is now closed and I hope it yielded great results for all of you that took the idea into account.
