VladimirRibakov
Short

USDCHF Great Risk:Reward Sell Setup

FX:USDCHF   U.S. Dollar / Swiss Franc
109 1 0
D1 bullish cycles has completed and we can now look to short.
On the H1 chart we are looking for a double wave up and once completed we can look for shorts. Keep in mind parity level is also close so we can see spikes to it.

The 0.9960 zone is a key level resistance which also coincides with the H1 bullish cycles completion.

You can attack with divergence – more aggressive approach, where once the divergence completes itself inside the sell zone you can go for short. Or a bit more conservatively would be to follow the most recent up trend line , and once broken, wait for a small pullback and sell.

Set your protection above the last high created and aim as a final target the 0.9820 level.
Great job Vladimir, thanks
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