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USD/CHF | Sep 10, 2019

Updated: Sep 11, 2019

On 4H time-frame: If current 4H candle which is due to close in 1+ hour,

closes below trend predictor (rerd line), it will show short term trend change. As well, it will confirm MACD crossover.

In addition to these factors, we have bearish divergence.


On 1H time-frame: USDCHF moves downward, buyers take opportunity and buy after this downward retracement, which makes '3 inside up candle pattern' encircled in sky-colored ellipse. But later this upward move is erased as market falls and make '3 inside down pattern' encircled in red ellipse.


Moving average crossover as well as RSI crossover takes place.


Target: 50% of last upswing on 4H.


Risk: It may be just an ABCD retracement and USD/CHF may continue moving up. If 1H candle closes above point C, the bearish setup will become invalid. Nevertheless, SL can be set above A point because it still gives a better than 1:1 R:R ratio.

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