USDCHF 4-hourly chart bull is exhausting, bear is taking over with the recent bearish engulfing formation. A potential SHORT can be executed with reasonable risk reward ratio.
Reason :
- 4 hourly chart, critical res at 0.982x area.
- Possible downside target to 50% fibs level @ 0.963x area
- Awaiting channel break.
- Reasonable risk reward to short.
- Potential to reach next supp points :
Entry point short : CMP ; TP : 0.9635 ; SL above previous high @ 0.984x area.
Risk Reward 1 : 2.4
Always remember to trade with stop-loss, market is crazy & cunning*
Reason :
- 4 hourly chart, critical res at 0.982x area.
- Possible downside target to 50% fibs level @ 0.963x area
- Awaiting channel break.
- Reasonable risk reward to short.
- Potential to reach next supp points :
Entry point short : CMP ; TP : 0.9635 ; SL above previous high @ 0.984x area.
Risk Reward 1 : 2.4
Always remember to trade with stop-loss, market is crazy & cunning*