DAILY TREND AND ANALYSIS [url=tradingview.com/chart/ USDCHF/LgasXcIh-USDCAD-DOWNTREND -TECHNICAL-ANALYSIS-8-12-OCTOBER-2018/] PRICE MADE A HIGHER HIGH WHILE APPROACHING TREND LINE, SUPPORT AND SWING HIGH - MACD IS DIVERGING BEARISH, SELL SIGNAL, BEARISH MOMENTUM STRENGTHENING AND MADE LOWER HIGH - RSI IS DIVERGING BEARISH, OVERBOUGHT AND MADE LOWER HIGH - PRICE BROKE BELOW 7 PERIOD EMA - DOJI CANDLE ON 4 HOUR - BEARISH SHOOTING STAR ON DAILY CANDLE - BROKE BELOW 10 PERIOD TEMA ON DAILY ONLY PLACE TRADE IF RISK TO REWARD IS <1 ENTRY: 0.99200 STOP LOSS: 1.00138 TAKE PROFIT 1: .382 RETRACEMENT TAKE PROFIT 2: .5 RETRACEMENT TAKE PROFIT 3: .618 RETRACEMENT TAKE PROFIT 4: .786 RETRACEMENT PLACE STOP LOSS TO BREAK EVEN WHEN PRICE HIT'S FIRST TARGET LOOK OUT FOR ECONOMICAL EVENT'S THIS IS JUST MY ANALYSIS IT COULD BE RIGHT OR WRONG. PLEASE LEAVE POSITIVE FEEDBACK, CRITICISM, YOUR THOUGHT'S AND YOUR IDEAS lIKE IF YOU FOUND THIS USEFUL AND FOLLOW ME FOR MORE IDEAS- I WOULD REALLY APPRECIATE IT GOOD LUCK, TRADERS
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ENTERED 4 SHORT POSITIONS AT 1.00138
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Bouncing down from the trendline, swing high and resistance?
I agree with your bearish view on USDCHF, we are also bearish on this currency pair and a breakout of our support level might cause a drop in price to our major support which coincides with the 23.6% fibonacci retracement.
Glad that we have the same bias on USDCHF: