bunna

USDCHF D1 Bearish Divergence, Trend line support broken

Short
FX:USDCHF   U.S. Dollar / Swiss Franc
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Looking to Sell USDCHF coming into Swiss unemployment and CPI numbers due to be released today
Bearish divergence indicated on the daily MACD and RSI indicate a possible trend direction change and yesterday's close below the rising trend line support confirms this.
Entry @ 0.97
S/L @ 0.975 50 pips
T/P1 @ 0.956 140 pips R/R 1:1.43
T/P2 @ 0.942 280 pips R/R 1:2.9

Comments

a hammer candlestick pattern has formed on the daily at support. I have closed this trade at break even and will wait for a daily close below the 50dma before reentering short.
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