FullTimeTrader
Short

USDCHF-potential bearish bat near to completion at key area

FX:USDCHF   U.S. Dollar / Swiss Franc
563 1 6
Hello, according to my previous idea i think this pair is forming a big consolidation triangle.
Right now price is near the trendline resistance and long term resistance visible on W1 chart:
snapshot

We can see this scenario also on D1 chart:
snapshot

Here on H4 chart we have a perfect bearish bat near to completion in confluence with the trendline resistance and horizontal resistance.
Best regards
*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis before opening a trade.
Managing is 60% of a trade, anytime I may decide not to open, close or even stop and reverse a trade depending on price action.
Any respectful and constructive ideas are welcome (agree or disagree).

I agree with the analysis..have kept a limit order to sell usdchf at 0.9820. With world equity and commodity markets in a tailspin, its only a matter of time before the SNB aborts its intervention tactics and allows a new "band" for the swissy...
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