USDCHF made a fake move in week 3, showing a double top look alike price pattern in the first half of the week. I personally entered long for this pair, which I profited from the move.
It went on to push higher persistently, all the way to 3 identified bullish zone. It ended off the week with a seemingly double top. It's almost 75% complete, we just need the price to move down on the right to see a complete double top.
From the analysis, I would be expecting the pair to be trading lower, for the bear to regain the trend and trade lower. For week 4, I am starting off with an expectation of bear trend in USDCHF.
Stay flexible with an open mind and I hope you will continue to make good profits in week 4! If you have any thoughts on USDCHF's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
I have entered USD/CHF short just before closure last Friday and one more on opening this Monday. My positions are at 0.9955 as i saw exhaustion in the price move and H1,H4 and D1 showing the top of the move. The three charts agree that the upmove is not possible anymore or will be very limited. One might say I entered early but I use several indicators to confirm the exhaustion. EU opening did not try breaching Asian session tops yet and that is another confirmation.
And Mr. Trump may help it move down soon.
xunnobi
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@Erland, thanks for leaving your comments. I entered a short position too last week. But I went in with a smaller position and strict risk for this pair. Waiting for a good candlestick combi or drop to confirm my position.
And Mr. Trump may help it move down soon.