The following is the four hour chart of USDCHF as of Jan. 13th, 1 AM EST. If you observe the chart you can see that
1) there was break out of the support line earlier.
2) The candlesticks reached the support line again and now the support line may act as the resistance line.
3) Looks like a bearish engulfing candlestics are forming.
All these things are favoring for a short trade. Once the current candlestick is completed and if it is a bearish engulfing candlestick, I think its a good idea to enter a short trade. Check the following picture.
usdchf short trade opportunity
Recent Comments