rookpaal

Reversal on USDCHF

Short
FX:USDCHF   U.S. Dollar / Swiss Franc
0
After seeing an explosive 1% move downwards after testing the upside of the rising wedge , along with ca. 18-month highs we're looking for a short to capitalize on a definitive reversal.

Although this reversal cannot be confirmed for sure yet, getting in early could prove very profitable.

SL set 10 pips above the wick of a few hours back.
TP set at the 162% extension with respect to the first move from 0.97949 to 0.96485.
Note also that this lines up nicely with the strong support of a few weeks back.