USDCHF IS CURRENTLY TRADING IN A CHANNEL WHICH CROSSES INTO ONE OF MY VERY WELL RESPECTED MAJOR SUPPLY AND DEMAND ZONES, THE TRADE IDEA ITSELF SHOULD BE A SMALLER TIMESCALE TRADE TO NORMAL (WITHIN A WEEK) HENCE WHY I WILL BE LOOKING FOR PRICE ACTION CONFIRMATION ON TIMESCALES RANGING FROM 1-4HR AS ON THIS TIME FRAME THE PRICE DOESN'T ALWAYS STICK AROUND FOR A WHILE AND THE MOVE COULD BE SHARP. LETS SEE HOW THIS PLAYS OUT.
Trade active:
Strong bearish engulfing on 1hr, and past few hours candles weak
Comment:
PIN BAR ON 4HR, BEARISH ENGULFING 4HR, PRICE HASN'T BEEN ABLE TO BREAK THIS AREA SINCE START OF THE WEEK. REVERSAL LIKELY.
