USDCHF: Short from Resistance
Bearish Indications
• Overall Trend is Bearish
• Resistance Zone at 0.93693
• Fib Level 61.8% as the Resistance level
• Gartly’s XABCD pattern supports a reversal in the area of 0.93923
• Seasonal Analysis Shows USD remains Bearish in December month
Bullish Indications
• HHs and HLs on 1Hr Timeframe
• Bullish Engulfing
• Trend Line is working as support Price has respected it once.
• Significant Support Zone at 0.93185
• Seasonal Analysis shows CHF Remain Bullish in December Month.
Biased: Short
Entry Short: 0.93803
TP1: 0.93231 (Fib Level 38.2%)
TP2: 0.92891 (Fib Level 61.8%)
Stop Loss: 0.94375 (10 pips above Point X of XABCD Pattern)
Lot Size 0.16 x 2
Risk/Reward: 1:1.6
• Overall Trend is Bearish
• Resistance Zone at 0.93693
• Fib Level 61.8% as the Resistance level
• Gartly’s XABCD pattern supports a reversal in the area of 0.93923
• Seasonal Analysis Shows USD remains Bearish in December month
Bullish Indications
• HHs and HLs on 1Hr Timeframe
• Bullish Engulfing
• Trend Line is working as support Price has respected it once.
• Significant Support Zone at 0.93185
• Seasonal Analysis shows CHF Remain Bullish in December Month.
Biased: Short
Entry Short: 0.93803
TP1: 0.93231 (Fib Level 38.2%)
TP2: 0.92891 (Fib Level 61.8%)
Stop Loss: 0.94375 (10 pips above Point X of XABCD Pattern)
Lot Size 0.16 x 2
Risk/Reward: 1:1.6
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