USDCHF POTENTIAL SHORT OPPORTUNITY (SWING TRADE)
Hey everyone! Hope you are all doing amazing! Just wanted to come on here and do a post for a nice swing trade position I am looking at on the USDCHF for this upcoming week! Just wanted to come on here and share some value with you guys as well as a potential highly lucrative trade idea...so lets DIVE IN!
Okay so when taking a look at this currency pair we can first see on the higher TF like the weekly chart that prices are coming into a strong zone of supply...backed by the 200 EMA and monthly 50% fib retracement level....with these 3 technical confluences it already leads me to believe there will be some moves happening at this level. Something else I realize is that prices on the daily have been moving for some time without much relief giving me the bias that a discount is due and especially if that buyer wants to continue buying and building orders for the future some sells coming in will provide that
Prices also on the lower TF like the 4H and 1H last week showed a huge seller spike to the downside early/before the level showing me some institutional interest just the timing not being there since it is not in supply yet...ALSO price is sitting at the daily -61.8% fib extension level which lines up around this supply zone confirming the overextended price action as well.
Hope this provides some clarity as to what I am looking for here and a potential idea for you guys! If you like please give a boost. Follow the page...and let's see how this plays out!
Cheers!
Okay so when taking a look at this currency pair we can first see on the higher TF like the weekly chart that prices are coming into a strong zone of supply...backed by the 200 EMA and monthly 50% fib retracement level....with these 3 technical confluences it already leads me to believe there will be some moves happening at this level. Something else I realize is that prices on the daily have been moving for some time without much relief giving me the bias that a discount is due and especially if that buyer wants to continue buying and building orders for the future some sells coming in will provide that
Prices also on the lower TF like the 4H and 1H last week showed a huge seller spike to the downside early/before the level showing me some institutional interest just the timing not being there since it is not in supply yet...ALSO price is sitting at the daily -61.8% fib extension level which lines up around this supply zone confirming the overextended price action as well.
Hope this provides some clarity as to what I am looking for here and a potential idea for you guys! If you like please give a boost. Follow the page...and let's see how this plays out!
Cheers!
Comment:
price is moving closer to execution zone
Trade active:
USDCHF up over 1.3R from zone...cheers!
Trade closed: target reached:
Take profit was hit...cheers!