FullTimeTrader
Short

USDCHF-time to think short, short

FX:USDCHF   U.S. Dollar/Swiss Franc
480 4 12
According to a previous idea im long on this pair:
USDCHF-broke strong resistance-cup and handle pattern


When everybody is looking at EURUSD             i sometimes find better opportunities here (they are negative correlated)

After a huge decline i think this pair is building a consolidation triangle labeled abc-abc-abc-abc-abc

Right now the price is about to complete last C wave near the trendline resistance.

We have also a bearish bat at that area that could work fine.

On the left side side there is another confluence -----------> the 0.8860 fib retracement of last swing, a non perfect bat.

I am not drawing the bat because i like to keep chart as clean as possible, showing only relevant and prefered information.

This setup is negative correlated with my EURUSD             long setup so I could be double right or double wrong.

Best regards.
FullTimeTrader
a year ago
NOTE: the harmonic pattern shown is a bearish CRAB, i did a mistake, the name is different but the setup is the same.
Regards.
Reply
Mistakes happen sir, Goodluck!
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I think it's similar to this -
USDCHF H4 - Cluster of fibo 2x 161.8% for (short) shorts
Reply
FullTimeTrader leszekstanislaw
a year ago
Yes, there are good fib levels at that area
Reply
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