USDCHF Short
Updated
Uptrend has been broken. There has been a pullback after the impulse move downwards between the 78.6 and 88.6 Fibonacci. Although price had looked to have closed outside of the downtrend trendline (fakeout) the market had moved back into the trendline confirming its validity. 2 bearish candles on the 4H giving more confidence of a move to the downside.
Hopefully the FOMC and NFP, as well as other news this week, can provide the volatility needed for this move to happen sooner rather than later. Of course, you need to be careful with regards to this as you can easily be stop hunted, or the USD can strengthen overall.
NOTE: Analysis is to journal only and is not a signal (trade has been taken well before the published view). Most of the analysis has been removed and not explained for leverage.
Hopefully the FOMC and NFP, as well as other news this week, can provide the volatility needed for this move to happen sooner rather than later. Of course, you need to be careful with regards to this as you can easily be stop hunted, or the USD can strengthen overall.
NOTE: Analysis is to journal only and is not a signal (trade has been taken well before the published view). Most of the analysis has been removed and not explained for leverage.
Trade active
Note
CADCHF TP hit +40.5 pips
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