USDCHF dropping perfectly

23 June, 2017

Sell below 0.9735. Stop loss at 0.9774. Take profit at 0.9641. Reason for the trading strategy (technically):

Price has started to drop really nicely from our selling area and we remain bearish for a further drop below 0.9735 resistance (Fibonacci retracement, horizontal overlap resistance). Our profit target is 0.9641 support (Fibonacci retracement, horizontal swing low support).

RSI (34) has broken below our long term ascending support-turned-resistance line signalling that a change in momentum is about to be seen in price.


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