Sell USDCHF Breakout

Apr 16, 2024

The USD/CHF pair on the M30 timeframe presents a possible shorting opportunity due to a recent breakout from a pattern.

Potential Short Trade:

Entry: Below the broken level, ideally around 0.9140 after confirmation of the breakout. Confirmation could involve a retest of the broken level as resistance or a sustained move below the level.

Target Levels:
0.9060: This represents a potential initial target based on a measured move approach (distance from the breakout point to the pattern's height).
0.9024: This is a further extension of the downside target.

Stop-Loss: Place a stop-loss order above the broken level, ideally around 0.9155. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.

Thank you

Apr 16, 2024

Trade active

Apr 19, 2024

Trade closed: target reached