Short USDCHF: Bearish Shark to Pivots

20 Eyl 2015

USDCHF has completed a bearish shark at confluent reversal zone. Unhit weekly and daily pivots add pressure to the downside. The new unhit daily pivot aligns with .382cd and makes for a nice target level. SL above S/R provides a substantial R/R. A more aggressive T2 may be placed at .618CD.

Confluence in the PRZ:
1. Bearish Shark Completion
2. 1.618bc
3. 0.786XA
4. 3.618ab=cd
5. 0.618 0-1
5. Trendline Resistance