USDCHF - Bullish Shark completes at 0.9850
Next week, I am predicting early week weakness for USD.
USDCHF completed a bearish shark(blue triangle) on Friday and started to fall.
In the upcoming week, we have NFP and we might see USD continue dropping before NFP.
Pattern Identification
We have a bullish shark pattern completing on the H4 chart on USDCHF around 0.9850 - 0.9860.
This is a zone of interest where Shark pattern traders might be interested to go long.
Trade Execution
Before entry, I will have to see a rejection of the PRZ in the form of a pin bar of engulfing candlestick pattern.
SL and TP are indicated on the charts, this is a potentially a 1:2.3 Risk to reward trade.
This pattern will be invalidated if price does not react at PRZ and goes straight to the SL level.
USDCHF completed a bearish shark(blue triangle) on Friday and started to fall.
In the upcoming week, we have NFP and we might see USD continue dropping before NFP.
Pattern Identification
We have a bullish shark pattern completing on the H4 chart on USDCHF around 0.9850 - 0.9860.
This is a zone of interest where Shark pattern traders might be interested to go long.
Trade Execution
Before entry, I will have to see a rejection of the PRZ in the form of a pin bar of engulfing candlestick pattern.
SL and TP are indicated on the charts, this is a potentially a 1:2.3 Risk to reward trade.
This pattern will be invalidated if price does not react at PRZ and goes straight to the SL level.
Order cancelled:
The price bounced off the 50% CD retracement, completing a 5-0 pattern.
For the 5-0 pattern, we usually target the 2.0 BC extension as our profit target.
I expect USDCHF to hit 1.0220 soon.
The price bounced off the 50% CD retracement, completing a 5-0 pattern.
For the 5-0 pattern, we usually target the 2.0 BC extension as our profit target.
I expect USDCHF to hit 1.0220 soon.
