USDCHF: Quarterly resistance rejection

FX:USDCHF   U.S. Dollar / Swiss Franc
195 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 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 jangseohee
Looks like a potential sell to me...
and thanks to SNB, the price sucked right back into the channel, Oversold!!!
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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
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.
Doubled up with a second batch, same lot size.
Stop at the same spot as well.
IvanLabrie IvanLabrie
Stopped out, will wait for further setups, still an interesting pair.
i thought the same thing.. at least recoup HALF!
+1 Reply