Short Trading Idea on USDCHF
This pair is getting more interesting with the converging bearish harmonics patterns that is observed.
From Dec 2016 High, price started forming a bearish shark which has just been completed at 0.886 retracement of XA. We have two other bearish ABCD patterns that are also completed at 1.27 extension of AB, all these can be seen in the analysis herein. Therefore, it's important to know that the short is a pull back to the trend where our tp will be @1.00286 and sl @1.04926 , and in conclusion, we have to be patient to observe clear reversal pattern before we short this pair having observed price is at overbought area of the RSI
From Dec 2016 High, price started forming a bearish shark which has just been completed at 0.886 retracement of XA. We have two other bearish ABCD patterns that are also completed at 1.27 extension of AB, all these can be seen in the analysis herein. Therefore, it's important to know that the short is a pull back to the trend where our tp will be @1.00286 and sl @1.04926 , and in conclusion, we have to be patient to observe clear reversal pattern before we short this pair having observed price is at overbought area of the RSI
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