Every trader knows that the higher timeframes rule the market. Now after a 2011 low created by the Swiss franc, the USD has failed to break the Lower lows created by CHF, which means the pair is still in a down trend. Price has been consolidating since 2011, and considering a buy at this point is not ideal.
After observing observing price failing to break thr previously set highs on the higher timeframe, and also on the 4H timeframe, despite the fundamentals being so good for the USD the previous day, that did not affect the pair significantly, so we decide to opt for a sell order, but only after price convincingly broke the previously set lows to create a change of character. The currency strength of the Swiss France was another confluence added to confirm this trade is a sell.
After observing observing price failing to break thr previously set highs on the higher timeframe, and also on the 4H timeframe, despite the fundamentals being so good for the USD the previous day, that did not affect the pair significantly, so we decide to opt for a sell order, but only after price convincingly broke the previously set lows to create a change of character. The currency strength of the Swiss France was another confluence added to confirm this trade is a sell.