USD/CHF broke a pattern downwards yesterday and I am looking to take advantage of USD's weakness against CHF to sell the pair but I am not willing to sell at these prices.
I will be waiting for a re-test of the structure. As you can see, around 0.93125 - 0.93200 levels, we have three important things going on: the bottom of the pattern, the daily pivot level and an inverted fib level.
As soon as I see some bearish PA around these levels I will sell the pair and target the 161.8 % fib level (inverted), a nice 55-pip trade!
Check my past ideas to understand the way I trade.
Trade at your own risk
Comment
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Looks like the pair is going to target without any retest...
Trade closed: target reached
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Target reached without retest. trade not taken since we were in the middle of the fib level (I don't like to open trades in such cases)