USD/CHF at a Turning Point – Distribution in Progress?
Updated
USD/CHF has been trading in a critical zone, with signs of potential distribution emerging. The Wyckoff structure on this chart highlights key phases—will we see a breakdown, or could this turn into a fakeout and rally
🚩 Key Levels to Watch:
Resistance at 0.8956 (potential UTAD)
Support near 0.8845 (SOW confirmation zone)
🔥 This week’s focus:
Waiting for price action to confirm a breakdown below 0.8845 for shorts.
Watching for any fakeout above the UTAD zone at 0.8956 for bullish traps.
Key Levels
Resistance (UTAD Zone):
Level: 0.8956
Plan: Look for signs of rejection or manipulation (e.g., wicks, false breaks) in this zone to confirm bearish intent.
Support (SOW Confirmation Zone):
Level: 0.8845
Plan: A clean break and retest of this level could confirm further downside.
Intermediate Zone (Mid-Level):
Level: 0.8902-0.8915
Plan: Watch for reactions around this level as a key area for short-term decision-making (e.g., scaling into trades).
Execution Plan
Bearish Scenario (Primary):
Entry Criteria:
Monitor for bearish price action (e.g., engulfing candles, strong rejections) around 0.8956.
Alternatively, wait for a clean break below 0.8845 to confirm weakness and enter on a pullback.
Stop Loss Placement:
If entering at the UTAD zone: Place SL just above 0.8965.
If entering after a break below 0.8845: Place SL above the retested zone (~0.8855).
Take Profit (TP) Targets:
TP1: 0.8805 (near lower consolidation support).
TP2: 0.8770 (extended target).
Bullish Scenario (Alternate):
Entry Criteria:
If the price breaks above 0.8956, watch for consolidation or retest of the UTAD zone for signs of bullish continuation.
Stop Loss Placement:
Place SL just below 0.8950 (invalidates bullish breakout).
Take Profit (TP) Targets:
TP1: 0.8990 (recent highs).
TP2: 0.9025 (further rally).
🚩 Key Levels to Watch:
Resistance at 0.8956 (potential UTAD)
Support near 0.8845 (SOW confirmation zone)
🔥 This week’s focus:
Waiting for price action to confirm a breakdown below 0.8845 for shorts.
Watching for any fakeout above the UTAD zone at 0.8956 for bullish traps.
Key Levels
Resistance (UTAD Zone):
Level: 0.8956
Plan: Look for signs of rejection or manipulation (e.g., wicks, false breaks) in this zone to confirm bearish intent.
Support (SOW Confirmation Zone):
Level: 0.8845
Plan: A clean break and retest of this level could confirm further downside.
Intermediate Zone (Mid-Level):
Level: 0.8902-0.8915
Plan: Watch for reactions around this level as a key area for short-term decision-making (e.g., scaling into trades).
Execution Plan
Bearish Scenario (Primary):
Entry Criteria:
Monitor for bearish price action (e.g., engulfing candles, strong rejections) around 0.8956.
Alternatively, wait for a clean break below 0.8845 to confirm weakness and enter on a pullback.
Stop Loss Placement:
If entering at the UTAD zone: Place SL just above 0.8965.
If entering after a break below 0.8845: Place SL above the retested zone (~0.8855).
Take Profit (TP) Targets:
TP1: 0.8805 (near lower consolidation support).
TP2: 0.8770 (extended target).
Bullish Scenario (Alternate):
Entry Criteria:
If the price breaks above 0.8956, watch for consolidation or retest of the UTAD zone for signs of bullish continuation.
Stop Loss Placement:
Place SL just below 0.8950 (invalidates bullish breakout).
Take Profit (TP) Targets:
TP1: 0.8990 (recent highs).
TP2: 0.9025 (further rally).
Trade active
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