Today on monday 16th I decided to go Short on USDCHF mainly because It fullfills my trading requirements
there is this wedge pattern with a Strong RSI divergence going on and price is almost at a key resistance level that couldn't break for a while making this a good risk&reward BUT tomorrow 12:30 UTC there would be alot of volatility going on with the US CPI reports forcing our stops a bit wider then usual.
Although stops are a bit wide our target is not that bad it's set at a key support level that has hold also for a while.
I also drawed a trend support line inside the wedge indicating a good entry potentially break further and go south.
there is this wedge pattern with a Strong RSI divergence going on and price is almost at a key resistance level that couldn't break for a while making this a good risk&reward BUT tomorrow 12:30 UTC there would be alot of volatility going on with the US CPI reports forcing our stops a bit wider then usual.
Although stops are a bit wide our target is not that bad it's set at a key support level that has hold also for a while.
I also drawed a trend support line inside the wedge indicating a good entry potentially break further and go south.