informedtrades
Short

Short USDCHF As Price Forms Long Wick Off 50 SMA

FX:USDCHF   U.S. Dollar / Swiss Franc
Long wick off the 50 SMA , in the context of a downtrend -- joined a 50% Fibonacci retracement level from the recent swing high to swing low and a horizontal support level going back to the turn of the year. The confluence of factors sets up a nice short trade opportunity.
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