USDCHF, 1:5 RR, Swing Short Potential

In this analysis, we can see that the #USDCHF is rejecting the upper trend line. After consolidating for a few days around this resistance zone (1.0200-1.0230) I am expecting the 3rd rejection off this region with a daily closure under 1.0200 where then we should see a bearish wave downwards in the coming days, weeks. The DXY has also posted a very strong push above the 98.00 level, I am expecting a pullback before any continued movement upwards with USD/xxx pairs.

Short USDCHF
Type: Swing Trade

Sell: 1.0210
TP1: 1.0160
TP2: 1.0120
TP3: 1.0070
TP4: 1.0000

Stop Loss: 1.02400

RR: 1:5
(40 pip risk, 200 pip reward)

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Note

Take Profit 1 hit +50 pips

Note

TP 2 Hit +90 pips

Note

TP 3 Hit +140 pips

Note

TP 4 Hit +210 pips

CaliG11

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CaliG11