Trade Idea on "EURCHF" / Short Setup / by Thinking Ants
Main items we can see on the 4hs Chart:
1)Price is on a Flag pattern formation that found support on a major Daily Zone
2)Flag Patterns are considered continuation structures
3)Currently, the main form is a descending channel in which the Flag pattern is on it.
Based on that if The price breaks out from the Flag pattern, we expect a continuation of the bearish movement towards the lower trendline of the descending channel
Daily Vision:
On the Daily Chart, we can see how the Flag pattern is making a pullback over the major corrective structure in between the 2 Impulsive waves AB and CD(On current formation) that give us strong support for the Trade Idea.
1)Price is on a Flag pattern formation that found support on a major Daily Zone
2)Flag Patterns are considered continuation structures
3)Currently, the main form is a descending channel in which the Flag pattern is on it.
Based on that if The price breaks out from the Flag pattern, we expect a continuation of the bearish movement towards the lower trendline of the descending channel
Daily Vision:
On the Daily Chart, we can see how the Flag pattern is making a pullback over the major corrective structure in between the 2 Impulsive waves AB and CD(On current formation) that give us strong support for the Trade Idea.