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congibb
Jan 12, 2020 12:40 PM

USDCHF- Sell idea Short

U.S. Dollar/Swiss FrancFXCM

Description

USDCHF- Sell idea

Firstly we have a large ascending TL on our weekly time frame, price last week broke below this level, retested and so far rejected, indicating a sell to us.

Then moving down to our 1H timeframe, we have a smaller descending TL where price has also rejected, this also indicates further bearish movement to us.

On top of this we can also identify a bearish flag which has formed, usually indicating a small up trend/pause in the market before further downside movement.
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