glennmercer

Short USDCHF: Bearish Shark to Pivots

Short
FX_IDC:USDCHF   U.S. Dollar / Swiss Franc
USDCHF has completed a bearish shark at confluent reversal zone. Unhit weekly and daily pivots add pressure to the downside. The new unhit daily pivot aligns with .382cd and makes for a nice target level. SL above S/R provides a substantial R/R. A more aggressive T2 may be placed at .618CD.

Confluence in the PRZ:
1. Bearish Shark Completion
2. 1.618bc
3. 0.786XA
4. 3.618ab=cd
5. 0.618 0-1
5. Trendline Resistance

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.