USDCHF: Potential 100 pip trade
Updated
Confluence
On the daily, we can clearly touch on a well-tested support area. Another thing we can see is the bearish divergence which could be a sign for a possible push to the upside. Another thing we can see is the head and shoulders pattern which might lead to a push to the upside.
COT
If we look at the COT reports we can clearly see a decrease in short positions and an increase in long positions. At this point, CHF is moving down but a push to the upside will not be a huge surprise because the USD is also getting weaker.
CHF COT: tradingster.com/cot/futures/fin/092741
USD COT: tradingster.com/cot/legacy-futures/098662
On the daily, we can clearly touch on a well-tested support area. Another thing we can see is the bearish divergence which could be a sign for a possible push to the upside. Another thing we can see is the head and shoulders pattern which might lead to a push to the upside.
COT
If we look at the COT reports we can clearly see a decrease in short positions and an increase in long positions. At this point, CHF is moving down but a push to the upside will not be a huge surprise because the USD is also getting weaker.
CHF COT: tradingster.com/cot/futures/fin/092741
USD COT: tradingster.com/cot/legacy-futures/098662
Note
I am sorry for the mistanke i mean bullish divergence!!!!!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.