#USDCHF, bullish in Week 15, bearish for Week 16?
USDCHF continued its upwards movement in Week 15, dashing all dreams and hopes for traders with a short view of the pair (Including me).
I took a couple of losing trade with USDCHF and understand that it will no longer stay bearish and I exited with some losses. While the movement isn't earth-shattering, it is good to minimize floating losses.
The pair continued to break upwards to bullish level 4 and it formed a reversal pattern, H&S, which made this week's analysis a bearish one.
While the analysis showed a potential bearish move in Week 16, for traders taking short, it is good to set stop loss of some sort to prevent unexpected upward move again.
For Week 16, I am in line with the analysis to take a short view on USDCHF, thus I would be entering short again in stages.
If my analysis helped you in any way, I hope you can like and follow me on TV! =)
I took a couple of losing trade with USDCHF and understand that it will no longer stay bearish and I exited with some losses. While the movement isn't earth-shattering, it is good to minimize floating losses.
The pair continued to break upwards to bullish level 4 and it formed a reversal pattern, H&S, which made this week's analysis a bearish one.
While the analysis showed a potential bearish move in Week 16, for traders taking short, it is good to set stop loss of some sort to prevent unexpected upward move again.
For Week 16, I am in line with the analysis to take a short view on USDCHF, thus I would be entering short again in stages.
If my analysis helped you in any way, I hope you can like and follow me on TV! =)
