USDCHF - Triple Break and Trend Continuation

Hi Traders!
The market is in a longterm Downtrend.
Let's begin our mtfa with the Daily Timeframe:

Here you can see the most important Levels for the market.
It is simple and direct.
At this moment the market is at the Resistance and the 50 EMA, so we expect a Pullback.
Let's continue with the H4-Timeframe:

In this screenshot you can see between which Trendlines the market is moving.
It is moving between those two Trendlines which results a Wedge.
Finally, let's switch to the H1-Timeframe:

We already decided that we only want to take short trades.
If the market moves down lower, it'll make this:
- Breaks the Trendline
- Breaks the Support
- Breaks the 50 EMA

The SL is above the last highest high.
The TP at the 76.8% Fibonacci Retracement Level.

We recommend to trade the market with a Retest.




Thanks and successful Trading :)!

Comment:

Here is the RED BOX :)

Trade closed: target reached:

Hello Followers!
The trade went very well, thanks for the likes.
We recommend to close the trade now, 20 pips before the actual target, because there are two dojis.

Have a nice day :)