Hi Traders! EURCHF bearish opportunity follow up and update is here. In the previous post here I mentioned “On the H4 chart the price is moving inside a range, this range is formed by the highs and lows reaching parallel resistance and support zones. The price is respecting these zones so far and currently it has reached the top of this range. In addition to this we also have a bearish divergence that has formed which we may consider as an evidence of bearish pressure. Hence everything looks good here for the bears, we may now look for more bearish evidences in order to start looking for sells”. Lets see how this setup has developed now.
EURCHF H1 Range:
On the H1 chart the price moved exactly as per our plan, it reached the top of the range and then it moved lower with bearish evidences as we expected. Our first target was reached and its a risk free trade now. We have collected nice profits so far.
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