USDCHF - H1 Supply & Bearish Bat (PRZ 1.0160 - 1.0200)
Entry 1
H1 supply zone offering almost a 1 to 4 risk to reward.
Entry 2
Bearish Bat completion at the 88.6% retracement with a harmonic AB=CD move into the PRZ.
TP1 offers 1 to 1.3 risk to reward
TP2 1 to 2.16 risk to reward
We may see price test the top of the channel, and considering we missed the bottom of the channel on the way down, we could see an over correction on the way up (presenting itself as a false breakout trapping the bulls), also invalidating all trade entries here.
H1 supply zone offering almost a 1 to 4 risk to reward.
Entry 2
Bearish Bat completion at the 88.6% retracement with a harmonic AB=CD move into the PRZ.
TP1 offers 1 to 1.3 risk to reward
TP2 1 to 2.16 risk to reward
We may see price test the top of the channel, and considering we missed the bottom of the channel on the way down, we could see an over correction on the way up (presenting itself as a false breakout trapping the bulls), also invalidating all trade entries here.