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U.S. Dollar / Swiss Franc
Short

$USDCHF | Potential Stopping Point?

By CryptoHotep
Updated
With USDCHF at extreme overbought levels and rejection from the previous resistance along with the long candle stick, we are looking at a short for the Swiss Franc with a stop loss set above the entry candle and take profit below the 20 MA and 50 EMA right above the 200 EMA. I think for the time being we trade in this channel here highlighted by the blue lines, which designate a short term (DAILY time frame) support and resistance whereas the zones are more longer term. (WEEKLY time frame)
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Numbers highlighted by drawing of entry, take profit and stop loss
bollingerbandstrategyChart PatternsForexHarmonic Patternspriceactiontradingrsi_overboughtshortsupportandresistancezonesswingtradingTrend AnalysisUSDCHFusdchfshort
CryptoHotep
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