EverythingForex
Short

USDCHF: Not 1 But TWO Potential Bullish Cyphers + Deep Crab

FX:USDCHF   U.S. Dollar / Swiss Franc
Yes, it's pick-your-cypher time. This pair has been on a steady upwards move for a while now and it's time for some relief in the form of a retrace. So these two cyphers may provide that relief before it resumes it's upwards march.
If that isn't enough patterns to sway you to SHORT this pair, throw in a POTENTIAL bullish deep crab that ends arond the same level as one of the cyphers and you start to get the makings of a nice zone to again go LONG if/when prices get there. Oh, and there is a minor SR structure zone around that area as well.

Good pips to be made if you want to follow the CD legs down. But keep the bigger picture in mind when going SHORT on this pair, I'm still BULLISH until further notice.
snapshot

MY TRADING PLAN
I am already in SHORT for a retrace back down. I will look to get LONG again upon the completion of the lower cypher (pink) and deep crab . I'll exit my SHORTS before then when prices reach the BAMM line of the BAT on the DAILY TF as that is also a MAJOR SR Structure. There's a 140+ pips to be made just with that move. I don't need to take the risk that the patterns won't get filled and that prices will hit structure and reverse back up to continue it's up trend. Remember, this pair is in a STRONG uptrend still so any down move is another chance to get LONG.
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Well, that was a quick out! As I said, STRONG uptrend in place. But as long as you had your S/L in place, wasn't much of a loss. Back to the chart to re-assess.....
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thank so much..
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As I said, just be careful about any shorts because this pair is STILL in a STRONG uptrend. And anything can happen to shoot it back up again from anywhere. Don't get too gung-ho about going short. I'd say do half of what your normal trade would be. That's what I'm doing. I'll get more aggressive when it's time to get LONG again.
+1 Reply
farid_ardavani EverythingForex
thanks for your tips
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nice set-up man! im in :)
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allready shorted for taregt 0.95500 but no move from morning
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