Swing Trading Opportunity for USDCHF during coming weeks
With both RSI (14) and MACD (12,16,9) sloping downwards while prices are not moving any higher over the last three months with head & shoulders being formed, there is a possibility that USDCHF will shift lower towards the Fibonacci level of 38% (approx 0.97300) of the low and high between 16 Feb 2018 and 10 May 2018. Tight stop loss above this high of 10 May 2018 (appox 1.00681) meaning that the R:R ratio remains attractive at 2.5 which makes the trade worth considering.
What do you think then?
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Things to remember:
- Trade with care
- Do not overtrade
- Only overtrade when you want to see the market hit your stop and then reverse back in the direction of your initial position.
What do you think then?
-----
Things to remember:
- Trade with care
- Do not overtrade
- Only overtrade when you want to see the market hit your stop and then reverse back in the direction of your initial position.
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