USDCHF: Time To Reverse

FX:USDCHF   U.S. Dollar / Swiss Franc
1192 11 47
Price is moving into a rising wedge pattern and it's on it's way to reach a key reversal zone where it will meet the median line of an upslope pitchfork , the 0.618 fib level of previous swing cycle and previous structure ( double top ). If price breaks below the wedge it should be a good sell opportunity
Comment: Price has reached the sell zone. Watch for a sell setup to complete at this level
Comment: Price broke below the wedge with a wide range candle and it's now in consolidation. Big news today son we move stoploss at breakeven, waiting for the news from a safe position. The news may make this trade a huge one.
Comment: This analysis was very accurate and almost everything went as planned. Those traders who identified a setup at the sell zone have pocketed a decent amount of pips.
The price broke the wedge already, time for reversal.

Thanks for sharing the idea.
Fxprotrader PRO CuongTran87
You are welcome mate
Very similar idea on GbpChf.
+1 Reply
I have seen gbpchf yet.. Thank you for letting me know :)
Heelfan23 PRO Heelfan23
+1 Reply
Heelfan23 PRO Heelfan23
Divergence in play as well
Yes, easy seen at a lower timeframe
Great analysis
Heelfan23 PRO Fxprotrader
Great trade!!!! Unfortunately my setup got blown out of the water. Gbp just hasn't had any pullback.
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