USDCHF - Short continuation

After a long downtrend leg the price started to correct.
Now the price is in a important zone:

1. Retraction of FIBO
   
2. Previous support now is a resistence
   
3. Weekly time frame in a bear market (confirming the downtrend)
   
4. Previous candle closed with a long tail
   
5. Price is between MM20 and MM50 pointed to downwards
   

Considering all the conditional above there is a high possibility of a continuation of bear market

Waiting for a bear candle breaking the previous lowest

評論:

The price hits MM50, the idea still the same!
Next candle can show us a continuation of a downtrend or long leg even stronger.

Let's wait!