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.