USDCHF - SHORT - HEAD AND SHOULDER PATTERN Short

U.S. Dollar/Swiss FrancFXCM

Description

⋅ Jul 14, 2019 2:10 PM

BIAS: Short

Over the weekend, there will be a gap to the upside so there is still a good chance to get in this trade as it has broken the neckline.

This is also B wave within the corrective phase of Elliott Wave Theory.

I don't usually trade B waves but with the confluence of the H&S it looks pretty promising.

Comments

iamanas22

⋅ Jul 14, 2019 2:47 PM

I think there is big pressure to the downside on DXY! so probably there will be no gap to the upside!

zorrays

⋅ Jul 15, 2019 9:40 AM

@iamanas22, it was a tiny one to improve R:R - but yes I agree Dollar is being sold.

iamanas22

⋅ Jul 14, 2019 2:46 PM

What makes you think there will be a gap to the upside?

Bullandbeartrading

⋅ Jul 15, 2019 10:34 AM

Nice Head and shoulders catch.