In my new analysis of the USDCHF i have found a trading opportunity that will fit into my plan. Doing my top down analysis i realized that on the daily chart we have recently put in a break and close below a previous support level. In my humble opinion this now puts us in a bearish rotation. Dropping down to the 4hr time frame ( trading time frame ) i could not help but notice that we have put in a nice head and shoulders pattern. So i am waiting for the close of this candle to show that we have broke the neckline of the head and shoulders, then i will be waiting for a rally back up to the neckline to give me a good risk to reward before entering this trade. If you like my analysis then check out my YOUTUBE channel for free lessons and live trading in the markets.
LINK: www.youtube.com/chan...9ubdGcvZh_dvSV2z1hoQ
LINK: www.youtube.com/chan...9ubdGcvZh_dvSV2z1hoQ
Trade active:
ENTERED the trade at the right shoulder with a great risk to reward and bigger targets. we will see how it plays out tonight and into tommorow
