USDCHF: Quarterly resistance rejection

FX:USDCHF   U.S. Dollar/Swiss Franc
194 9 7
Interesting formation in this pair, the spread is a big big, but the potential rewards are quite good.
I'm taking it short, targetting the recent low initially, with a stop at 0.92489.
Good luck!
i thought the same thing.. at least recoup HALF!
+1 Reply
Doubled up with a second batch, same lot size.
Stop at the same spot as well.
IvanLabrie PRO IvanLabrie
Stopped out, will wait for further setups, still an interesting pair.
Stopped, but price is starting to gravitate around the old quarterly resistance area, without any new highs.
I'll be watching this pair for a short entry.
Let's recap what happen a month ago, i expected price to gradually retrace to blue for support because it was euphoric and reach horizontal resistance
USDCHF, broke out of multi-term down channel
and thanks to SNB, the price sucked right back into the channel, Oversold!!!
USDCHF, big deal needs another big deal to offset
+1 Reply
i keep the channel intact and now even more interesting thing is happening.
after the oversold, it bounce and CURRENTLY as my post shows, it is SITTING right at the support of green channel and resistance of red channel
bloody hell :-)
IvanLabrie PRO jangseohee
Looks like a potential sell to me...
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