saml01

USDCHF - Short Opportunity

Short
FX:USDCHF   U.S. Dollar / Swiss Franc
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Top Down Approach:

Identified the weekly resistance area which is @ 1.00264 - Blue
Identified daily key level l @ 1.99914
Identified the 4 hour and daily uptrend break and minor retest

For this pair to be a valid trade, we want to see a few things

1) A retest or clear exhaustion of the breakout (somewhat seen)
2) a break of the weekly resisatance zone
3) clear upside rejection after the break
4) strong candles to the downside

TP target would be 1.99550 area - around 50 pips with potental twin trade for a bigger catch
R&R will be calcuated depending on where the pullback and entry is