USD/CHF trading idea | June 27, 2022

Even though there is a huge Double Top on D1 timeframe of the USD/CHF, I am not trading for the classical target of the Double Top because its classical target is more than 5000 points. Actually, this pair may already be influenced by economic decisions of the USA or Switzerland or by the consequences of Russo-Ukrainian war before it completes another fall of 5000 points.

However, I want to trade it in the bearish direction being staying in accord with the direction of the Double Top.

After an initial fall following the decision of the Swiss National Bank, the pair has been moving down gradually in a range. Since the range cannot be plotted like a channel, I have to use the Bollinger Band to determine the range. To trade the range in bearish direction, I am selling at the upper border of the range and exiting at its lower border. Please note that I am not trading the Bollinger Band, I am just using it for plotting the range.

Please note that Keon Consultancy uses these ideas in Forex Account Management / Fund Management; however, it doesn't post all the ideas used in trading.