TradingView
KABHI_FOREX_TRADING
Apr 16, 2024 8:03 AM

Sell USDCHF Breakout Short

U.S. Dollar/Swiss FrancFXCM

Description

The USD/CHF pair on the M30 timeframe presents a possible shorting opportunity due to a recent breakout from a pattern.

Potential Short Trade:

Entry: Below the broken level, ideally around 0.9140 after confirmation of the breakout. Confirmation could involve a retest of the broken level as resistance or a sustained move below the level.

Target Levels:
0.9060: This represents a potential initial target based on a measured move approach (distance from the breakout point to the pattern's height).
0.9024: This is a further extension of the downside target.

Stop-Loss: Place a stop-loss order above the broken level, ideally around 0.9155. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.

Thank you

Trade active

Trade closed: target reached

Comments
smganeshtcl
Thanks for sharing your idea
weekendanalyst
Nice, moving smoothly now
KABHI_FOREX_TRADING
@weekendanalyst, yes right
Ibrahim-learner
very nice mate 👌
KABHI_FOREX_TRADING
@Ibrahim-learner, thank you
sanjunath
nice analysis bro 😉
KABHI_FOREX_TRADING
@sanjunath, thanks mate
ICmarkets
That's quite a nice way to draw the trendline. Why did you use the body and not the wicks, if you don't mind me asking?
PHANTAMINUS
@ICmarkets it really depends on people strategy some uses d wicks some does not but I think in this scenario if u connect d wicks will change d while picture

KABHI_FOREX_TRADING
@ICmarkets, Hi, i use both body and wick. when Connecting more touch Points is working for me.
More