usdchf sell
Reasoning for sell
1) Price has failed to break resistance zone and has shown it is a strong resistance zone as wicks have entered and failed to break.
2) Trend line is downwards with more than 2 wicks confirming the trend
3) Fib point 0.618 is usually a retracement level where price will hit and retrace
4) TP2 has shown that price has hit and struggled to progress more downwards which is why i wil be taking profit here
5) rsi has also shown that a change is direction is imminent
I will be holding my sell to tp2
SL: 0.93815
1) Price has failed to break resistance zone and has shown it is a strong resistance zone as wicks have entered and failed to break.
2) Trend line is downwards with more than 2 wicks confirming the trend
3) Fib point 0.618 is usually a retracement level where price will hit and retrace
4) TP2 has shown that price has hit and struggled to progress more downwards which is why i wil be taking profit here
5) rsi has also shown that a change is direction is imminent
I will be holding my sell to tp2
SL: 0.93815
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