Hi Traders! USDCHF sell opportunity follow up and update is here. In the previous post here I mentioned “On the H4 chart the price has created multiple divergences with false breaks which we may consider as evidences of bearish pressure. In addition to this the price has also created a nice engulfing candle pattern which we may consider as another evidence of bearish pressure. Until the top of the daily range holds we may start looking for sells with more bearish evidences”. Lets see how this setup has developed now.
USDCHF H4 Chart:
On the H4 chart the price is moved exactly as per our plan, the price which was moving higher reached the top of the range and is currently moving lower exactly as we expected. We have collected nice profits with this trade so far.
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