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Mancoba_Thabethe
Nov 23, 2020 11:34 AM

USDCHF Descending Triangle: Bears Breakout Short

U.S. Dollar / Swiss FrancFOREX.com

Description

Hi Traders

In the past weeks USDCHF has bounces of the support zone at 0.90940 while forming lower highs creating a descending triangle pattern. After a brief consolidation and waiting, the bears finally made a breakout to the downside, further continuing in a downtrend. I set a intial sell entry so let's see how the market plays out.

Thanks for viewing.
Disclaimer: Analysis is subject to market changes.
Comments
rookie007
Good call, looks like the cave will be filled.
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