The USDCHF pair has been trading within a Channel Up pattern since the December 28 2023 Low. In the past 2 weeks, it has been forming its 2nd Bearish Leg that almost touched the 1D MA50 (blue trend-line), which has been supporting since February 02.
As long as we close 1D candles above it, we stay bullish, targeting 0.94200 (marginally below Resistance 2). Since however the recent Higher High was priced just below Resistance 1 (the October 03 2023 High), we will turn bearish (and take the buy's loss) if the pair closes a 1D candle below the 1D MA100 (green trend-line), which is what happened on November 14 2023. In that case, our Target will be 0.87350 (Support 1).
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As long as we close 1D candles above it, we stay bullish, targeting 0.94200 (marginally below Resistance 2). Since however the recent Higher High was priced just below Resistance 1 (the October 03 2023 High), we will turn bearish (and take the buy's loss) if the pair closes a 1D candle below the 1D MA100 (green trend-line), which is what happened on November 14 2023. In that case, our Target will be 0.87350 (Support 1).
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.