Analysis of #USDCHF
Hi traders, today we will have a look at #USDCHF
here we have another market trending down in a very beautiful downtrend channel as you can see the market respected the trendline resistance and the trendline support many times before.
I have no reason to believe the market will break out of this channel anytime soon for that we can just keep trading the inside of the zone.
for me I always prefer to trade with trend direction for that I will always try to get in a sell trade with such a setup, instead of buying here, because if you enter buy in this market using this setup you'll be essentially entering against the trend, not with the trend, it's ok if you are a reversal trader and you have a proven strategy.
I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one
Thanks for your continued support!
Hi traders, today we will have a look at #USDCHF
here we have another market trending down in a very beautiful downtrend channel as you can see the market respected the trendline resistance and the trendline support many times before.
I have no reason to believe the market will break out of this channel anytime soon for that we can just keep trading the inside of the zone.
for me I always prefer to trade with trend direction for that I will always try to get in a sell trade with such a setup, instead of buying here, because if you enter buy in this market using this setup you'll be essentially entering against the trend, not with the trend, it's ok if you are a reversal trader and you have a proven strategy.
I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one
Thanks for your continued support!
