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leszekstanislaw
Jul 20, 2015 7:41 AM

USDCHF H4 DIARY, short based on 161.8% fibo and uptrend Short

FX:USDCHF240
U.S. Dollar/Swiss FrancFXCM

Description

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My short is based on
  • top of uptrend channel - time for correction move
  • 161.8% of fibo of correction impulse - again, usually good time for short shorts
  • RSI above 80 (as just kind of confirmation

Have opened two positions with 2 targets
  • TP1 - c.a. 38.2% fibo of this uptrend wave
  • TP2- c.a.50.0% (notice - there is S/R zone


And then might be a good idea for long position :)
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