USDCHF Potential Bear Move ?
Hey Traders!
In todays analysis USDCHF is displaying what i believe to be a bearish setup. Presenting an opportunity to take advantage of this potential bearish move.
My Observations
Strategy
The plan is to drill down in to the lower timeframe and look for entries into this move.
Targets to between 0.87936 and 0.87577.
In the context of the higher tf could be a decent swing move. In the case i will be aiming for 0.85920 region.
In todays analysis USDCHF is displaying what i believe to be a bearish setup. Presenting an opportunity to take advantage of this potential bearish move.
My Observations
- Daily supply zone: Price retrace to test 0.89643/0.89148.
- Elliot Wave: Are we in a potential EW4 downward move ? Scroll back to Wed 22-5-24 and notice the beginning of the Elliot Wave. Moving forward we can see the completion of EW3 which also encompassed a 5 wave sub wave, highlighted by the blue 5 wave count. Even further forward we can see the potential completion of an EW4 confluence for what i believe to be a negative divergence.
Strategy
The plan is to drill down in to the lower timeframe and look for entries into this move.
Targets to between 0.87936 and 0.87577.
In the context of the higher tf could be a decent swing move. In the case i will be aiming for 0.85920 region.
Transaction en cours
And we're in!Note
excuse my typos ;D
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.