USDCHF - Bearish Butterfly at channel extreme Short

U.S. Dollar/Swiss FrancFXCM

Description

⋅ Oct 23, 2016 4:05 AM

Hey guys, I will be watching USDCHF for a potential short next week.

This is happening at the extreme of a channel.

As the channel is sloping up, my preferred bias is actually to buy low.

However, this could still work out nicely for us if we stay patient and only get in when we see reaction at the PRZ.

Please do not use a pending order, I will keep you guys posted.

EP: 1.0050
SL: 1.0120 (70)
TP: 0.97 (350)

Comment

⋅ Oct 24, 2016 8:19 AM

Hey guys, for those of you who are interested how I trade, I prepared a report on how I will trade in Week 42.

Download report by clicking link below, no signups/login required.

harmonicforex.com/terrys-weekly-forex-market-report/download-now-terrys-week-42-forex-market-outlook-report

Comment

⋅ Nov 6, 2016 1:01 PM

Check out my gameplan for week 44 here

bit.ly/2fdrCyu

Comments

KaQing

⋅ Oct 24, 2016 5:32 AM

we are heading towards the 1.000 figure. could give a decent bounce back at that level.

TerryHarmonicTrading

⋅ Oct 24, 2016 6:00 AM

I agree with this, it should have a reaction at that level. But i guess the big reversal only comes after it takes out the sellers at $1 and hits our bearish butterfly completion a little higher. 5 point patterns > ABCD most of the time.

AdrianUrban

⋅ Oct 23, 2016 1:36 PM

thx :)