USDCHF is at a resistance level (0.9950) - highs in May and July
Price seems to be stuck here for the 4th day today
Took a small short position.
There is a potential bearish Shark pattern completing at 0.9955/57
H4 AB=CD pattern completing at 0.9988, so stops has to go above this levels
H4 bearish divergence on the RSI - indicating an exhaustion move
Price seems to be stuck here for the 4th day today
Took a small short position.
There is a potential bearish Shark pattern completing at 0.9955/57
H4 AB=CD pattern completing at 0.9988, so stops has to go above this levels
H4 bearish divergence on the RSI - indicating an exhaustion move
Trade active:
My initial position took a little scare as price spiked up to completed the ABCD. Took another short at 0.9988 at the ABCD completion. Now holding a full position short.
Trade active:
Finally see this drop in the last few hours. Fingers crossed and shooting for the 0.9918 level
Comment:
Still in the trade, nothing is giving me the indication to exit the trade. Stops still above the 1.0 handle at 1.0008. Can consider to tighten stops to 0.9980
Trade active:
Price finally made a move down before the week ended on Friday. Shifted my SL to break even (now approx 60pips profits). Now I see a some retracement up, would not be surprised if it goes as high as 0.9913
Trade active:
Tightened SL to 0.9918 (locking in at least +33pips), target remains at 0.9718. I would like to see price breaking the immediate support at 0.9857 & 0.9841
Comment:
Tightened the SL by another 100 pips to 0.9818 (+133pips), target is at the TL support, readjusted TP to 0.9720. Since it is only 14pips away, I might close this trade at anytime.
Trade closed manually:
Missed my targets by 6 pips. H1 RSI showing bullish divergence, I believe there will be some bounce up before this can break below the TL support. Manually closed my trade at 0.9745 (+205pips).