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AzizKhanZamani
May 18, 2020 9:51 AM

USDCHF Equilibrium| Structural Resistance| Declining Volume  Short

U.S. Dollar/Swiss FrancFXCM

Description

Today’s Technical Analysis – USDCHF- trading in equilibrium where a break is imminent

Points to consider,
- Structural resistance (bearish retest)
- Declining volume
- Apex
- RSI at 50

A break in USDCHF will be imminent as price continues to reach its apex. The support and resistance lines will converge leading into a break in structure.

The structural resistance is a key level, a bearish retest will allow for a valid short. It is important to monitor how price action forms at the level as weakness will indicate a possible liquidity grab.

Volume is clearly declining, which is an indication of a true equilibrium. A breakout needs to be backed with increasing volume; this will decrease the probability of a false breakout.

Overall, in my opinion, if USDCHF breaks bullish, its immediate target will be structural resistance. If price action shows weakness and confirms a bearish retest, lower level will then be likely.

What are your thoughts?

Please leave a like and comment,

And remember,

“Do not anticipate and move without market confirmation—being a little late in your trade is your insurance that you are right or wrong.” -Jesse Livermore
Comments
transparent-fx
I have performed some TA on it as well, this is what I have on it atm
AzizKhanZamani
@transparent-fx constructive video! Love it thanks for you TA !
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