USDCHF bearish set-up:
Entry: 0.9700
TP1: 0.9600 (100pips)
TP2: 0.9500 (200pips)
TP3: 0.9450 (250pips)
SL: 0.9780 (80 pips)
Reward-to-Rish ratio : 3:1
Rationale:
1. Bearish trend continuation where retracement found at 50% Fibo retrament level.
2. Rejection by strong resistance with EMA200+EMA50 indicates strong retracement.
3. Bearish engulfing.
Entry: 0.9700
TP1: 0.9600 (100pips)
TP2: 0.9500 (200pips)
TP3: 0.9450 (250pips)
SL: 0.9780 (80 pips)
Reward-to-Rish ratio : 3:1
Rationale:
1. Bearish trend continuation where retracement found at 50% Fibo retrament level.
2. Rejection by strong resistance with EMA200+EMA50 indicates strong retracement.
3. Bearish engulfing.