USDCHF - Trading the Trend Continuation - Support Break
Hi Traders!
The market is in a Downtrend.
As always, let's begin with the Daily Timeframe.
Here is it:
Here you can see the market in a clear Downtrend.
It is additionally moving in a descending Parallel Channel.
The Trendline-Extension are overbought and oversold areas.
So, we're only looking for Selltrades.
Let's move on to the lower H4-timeframe:
What do we see here?
A descending Triangle which consists of a descending Trendline and a strong Support.
And consider the number of the touches too.
It is showing the strength of the Triangle.
Here is the idea:
The idea is simply the Break of the Support with the SL above the Trendline and the TP at the 161.8% of the Fibonacci Trendline Extension.
We recommend to trade the Breakout with a Retest, to avoid False Breakouts.
Thanks and successful Trading :)!
The market is in a Downtrend.
As always, let's begin with the Daily Timeframe.
Here is it:
Here you can see the market in a clear Downtrend.
It is additionally moving in a descending Parallel Channel.
The Trendline-Extension are overbought and oversold areas.
So, we're only looking for Selltrades.
Let's move on to the lower H4-timeframe:
What do we see here?
A descending Triangle which consists of a descending Trendline and a strong Support.
And consider the number of the touches too.
It is showing the strength of the Triangle.
Here is the idea:
- The H4-Timeframe
- The H1-Timeframe:
The idea is simply the Break of the Support with the SL above the Trendline and the TP at the 161.8% of the Fibonacci Trendline Extension.
We recommend to trade the Breakout with a Retest, to avoid False Breakouts.
Thanks and successful Trading :)!
Note
Here is the RED BOX, in case you want to see it :)
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Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.