USD/CHF - another big down movement is incoming
market price is near upper trend line from triangle formation which is strong resistance line. I expect again many sellers coming into the market at this area. US economy is still weak and the us dollar has only increased because the USA has resumed negotiations with China.
-regular RSI has more space to grow - wait until baseline reached the heavy overbought area
-stochastic RSI is already in heavy overbought area - wait for another bearish crossing of baselines (if orange line cross the blue one upwards)
-Bollinger bands start sideways movement which implements incoming correction movement
How to trade
sell area 1: wait for several closes within drawn sell area / under the pointed trend line
sell area 2: open sell order after price reached the sell area because this is strong resistance area
-regular RSI has more space to grow - wait until baseline reached the heavy overbought area
-stochastic RSI is already in heavy overbought area - wait for another bearish crossing of baselines (if orange line cross the blue one upwards)
-Bollinger bands start sideways movement which implements incoming correction movement
How to trade
sell area 1: wait for several closes within drawn sell area / under the pointed trend line
sell area 2: open sell order after price reached the sell area because this is strong resistance area
Comment:
Trade active:
market reached sell area 2
Trade closed: target reached:
trailing stop reached
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
wait for several closes on 1 H before entering this trade