USDCHF - 4hr Timeframe - Potential Short Opportunities
As mentioned in our previous analysis on this pair (www.tradingview.com/...ame-Buy-Opportunity/), after the small impulsive trade to the upside and as soon as the pair would have hit the previous top at 1.0057, we were expecting a fast and strong drop. For not so aggressive traders who aren't in this short trade as yet, wait for a not-so-small 60min correction before opening short positions, then sell the break of said correction with a stop loss above it. When the pair reaches the 4hr trend (yellow line, on a slope), you will have 2 options: close your positions in profit or put them in break even, and wait and see if the pair breaks further down towards the 0.98 area, knowing that it won't necessarily do so. In fact, the pair might go up and down numerous times, in a sort of channel, to form a running (irregular) flat (hand drawn pattern, in blue). At the moment though, this is irrelevant to us for two reasons: number one we don't know if this is going to happen. Number two we will go step by step so for now we are interested in the small correction the pair might form now: if it does so, it will confirm further downside and we will take the sell.
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Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.