Hi Traders! EURCHF range provides bearish opportunity for us. A detailed analysis of this sell setup is as follows:
EURCHF D1 Chart:
On the daily 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 which is respecting these two zones so far has currently reached the top of the range and is moving lower. We may now look for evidences of bearish pressure on lower timeframes in order to join the bears.
EURCHF H1 Chart:
On the H1 we have impulsive wave that has formed as shown in the screenshot. Until the last high holds, we may now look for pullbacks to happen and then we may start looking for sells with bearish evidences.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.
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