Evening Traders,
Today’s analysis – UCDCHF – trading above its daily s/r where a respect is probable,
Points to consider,
- Price Action Impulsive
- Daily S/R Support
- Local S/R Resistance
- Swing High Objective
USDCHF’s immediate price action is impulsive, trading above is daily s/r, allowing for a bullish bias into the local s/r only.
The local s/r is current resistance, testing this level is likely to be a bearish retest, allowing for a short entry.
The .382 Fibonacci is in confluence, proving to be a true trade location.
Overall, in my opinion, USDCHF is a valid short with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“In order to succeed, you first have to be willing to experience failure.”
― Yvan Byeaje
Today’s analysis – UCDCHF – trading above its daily s/r where a respect is probable,
Points to consider,
- Price Action Impulsive
- Daily S/R Support
- Local S/R Resistance
- Swing High Objective
USDCHF’s immediate price action is impulsive, trading above is daily s/r, allowing for a bullish bias into the local s/r only.
The local s/r is current resistance, testing this level is likely to be a bearish retest, allowing for a short entry.
The .382 Fibonacci is in confluence, proving to be a true trade location.
Overall, in my opinion, USDCHF is a valid short with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“In order to succeed, you first have to be willing to experience failure.”
― Yvan Byeaje
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Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
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Stay sharp, trade smart.
— Team The Alchemist ⚔️
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.