USDCHF Great Risk:Reward Sell Setup
D1 bullish cycles has completed and we can now look to short.
On the H1 chart we are looking for a double wave up and once completed we can look for shorts. Keep in mind parity level is also close so we can see spikes to it.
The 0.9960 zone is a key level resistance which also coincides with the H1 bullish cycles completion.
You can attack with divergence – more aggressive approach, where once the divergence completes itself inside the sell zone you can go for short. Or a bit more conservatively would be to follow the most recent up trend line, and once broken, wait for a small pullback and sell.
Set your protection above the last high created and aim as a final target the 0.9820 level.
On the H1 chart we are looking for a double wave up and once completed we can look for shorts. Keep in mind parity level is also close so we can see spikes to it.
The 0.9960 zone is a key level resistance which also coincides with the H1 bullish cycles completion.
You can attack with divergence – more aggressive approach, where once the divergence completes itself inside the sell zone you can go for short. Or a bit more conservatively would be to follow the most recent up trend line, and once broken, wait for a small pullback and sell.
Set your protection above the last high created and aim as a final target the 0.9820 level.
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