USDCHF a new bearish leg?

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USDCHF is currently undergoing a critical test of the monthly level at 0.88. This level holds significant importance as it has acted as a key level in the past, attracting market attention and influencing price movements.

Based on Plancton's Rules, there is a possibility that the price may retest the previous ascending channel, now serving as a new resistance level. If the price fails to break above this resistance and instead creates a reversal pattern, it could indicate a potential bearish impulse in the market.

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Follow the Shrimp 🦐

Keep in mind.

• 🟣 Purple structure -> Monthly structure.
  
• 🔴 Red structure -> Weekly structure.
  
• 🔵 Blue structure -> Daily structure.
  
• 🟡 Yellow structure -> 4h structure.
  
• ⚫️ Black structure -> <= 1h structure.
  

Follow the Shrimp 🦐

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ملاحظة

bearish continuation

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ملاحظة