I will try to target a continuation of the downward price action just above a decent support area. But to be safe, we can also target the recent swing low.
The bullish trend line has been broken that started late October. The market has just retraced upward after the break of trend line and could still go lower.
Bearish ABCD pattern appeared on USDCHF 60 min. chart.
Short @ 0.9582
Target - 0.94559
Stop - 0.96427
I guess the trade will take a few days to work out.
USDCHF 240 min. chart offers a good opportunity to go short right here in the downward channel. I have two target levels equal to FIBO retracement levels. Good luck !
While we are waiting for the original Bullish cypher to complete after the double bottom, this pattern turned up, so if price retraces during the trend continuation we got a chance to ride it down a little but. Its counter trend so we only have 1 target! RSI is floating in the middle just as the price is in the middle of the two patterns, so lets see whats going...
