A very interesting setup on the USD/CHF daily chart. A bearish bat has just completed and is retracing, currently being held by the 50% fib level from A to D. A good point to enter would be after price tests and holds either the 38.2% or 23.6% levels (blue arrows on chart).
Stop loss above D leg of Bat at 1.025555.
Profit targets at confluence of Crab and Bat fib levels: conservative one at bottom of Bat A leg (around 0.97825), and a more aggressive one at bottom of Crab C leg (around 0.94855).
Risk to reward ratios anywhere between 1:6 to 2:3. Just pick something healthy.
These are just some levels I would be willing to trade at and are obviously not guaranteed.
All the best!
Stop loss above D leg of Bat at 1.025555.
Profit targets at confluence of Crab and Bat fib levels: conservative one at bottom of Bat A leg (around 0.97825), and a more aggressive one at bottom of Crab C leg (around 0.94855).
Risk to reward ratios anywhere between 1:6 to 2:3. Just pick something healthy.
These are just some levels I would be willing to trade at and are obviously not guaranteed.
All the best!