USDCHF has shown bearish mode at 0.91800. I think this level is a great supply zone, which will see USDCHF sell to my indicated Buy Zone.
Additionally, USDCHF broke out of a rising wedge at 0.91800, whilst rallying in an ascending channel. This is a great and second confluence to confirm a reversal. Price action also gave us an evening star reversal candlestick pattern at 0.91800.
I am a supply and demand trader and I think and trade like the banks; like to play with liquididty zones rather than do indicators and chart patterns.
After retest of USDCHF breakout, I am expecting price to lead us to our 1st demand zone at 0.90400 with aligns with 50% fib level or it may lead us to 0.90200, which also marries the golden zone, 61.8% fib level. This will see price continuing with a rally move in the ascending channel.
But can also lead us to the 3rd demand zone at 0.89600, which aligns with 78.6% fib level. In this regard, we are expecting price to break the ascending channel and make rally retest. This will see a total bearish mode of USDCHF.
All the same, my focus on my Sell Zone and my 1st Buy zone. Let us sell USDCHF after retest confirmation.
#USDCHF #USDCHFSHORT #USDCHFANALYSIS #EYETHESACKFX #SUPPLYANDDEMAND #ORDERBLOCKS #TECHNICALANALYSIS
Additionally, USDCHF broke out of a rising wedge at 0.91800, whilst rallying in an ascending channel. This is a great and second confluence to confirm a reversal. Price action also gave us an evening star reversal candlestick pattern at 0.91800.
I am a supply and demand trader and I think and trade like the banks; like to play with liquididty zones rather than do indicators and chart patterns.
After retest of USDCHF breakout, I am expecting price to lead us to our 1st demand zone at 0.90400 with aligns with 50% fib level or it may lead us to 0.90200, which also marries the golden zone, 61.8% fib level. This will see price continuing with a rally move in the ascending channel.
But can also lead us to the 3rd demand zone at 0.89600, which aligns with 78.6% fib level. In this regard, we are expecting price to break the ascending channel and make rally retest. This will see a total bearish mode of USDCHF.
All the same, my focus on my Sell Zone and my 1st Buy zone. Let us sell USDCHF after retest confirmation.
#USDCHF #USDCHFSHORT #USDCHFANALYSIS #EYETHESACKFX #SUPPLYANDDEMAND #ORDERBLOCKS #TECHNICALANALYSIS