With both RSI (14) and MACD (12,16,9) sloping downwards while prices are not moving any higher over the last three months with head & shoulders being formed, there is a possibility that USDCHF will shift lower towards the Fibonacci level of 38% (approx 0.97300) of the low and high between 16 Feb 2018 and 10 May 2018. Tight stop loss above this high of 10 May 2018 (appox 1.00681) meaning that the R:R ratio remains attractive at 2.5 which makes the trade worth considering.
What do you think then?
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Things to remember:
- Trade with care
- Do not overtrade
- Only overtrade when you want to see the market hit your stop and then reverse back in the direction of your initial position.
What do you think then?
-----
Things to remember:
- Trade with care
- Do not overtrade
- Only overtrade when you want to see the market hit your stop and then reverse back in the direction of your initial position.