Hello Traders,
Tonight we look at USDCHF and it's price action with a Quarters Theory approach. As you can see from the chart it has failed to pass the hesitation zone TWICE. This is a perfect setup, and will give us a price rejection back into the channel that price is currently moving in. My expectations is that it will meet the 200MA at the 0.964 price point. Stops placed at 0.970, just above the recent high. TDI shows market sentiment moving downwards as well, so I am confident that this trade will hit take profit.
As always, manage your risk! Don't blow your account on one setup!
Best,
ForexNick
Tonight we look at USDCHF and it's price action with a Quarters Theory approach. As you can see from the chart it has failed to pass the hesitation zone TWICE. This is a perfect setup, and will give us a price rejection back into the channel that price is currently moving in. My expectations is that it will meet the 200MA at the 0.964 price point. Stops placed at 0.970, just above the recent high. TDI shows market sentiment moving downwards as well, so I am confident that this trade will hit take profit.
As always, manage your risk! Don't blow your account on one setup!
Best,
ForexNick