USDCHF - Bullish Shark completes at 0.9850

2017년 3월 5일

Next week, I am predicting early week weakness for USD.

USDCHF completed a bearish shark(blue triangle) on Friday and started to fall.

In the upcoming week, we have NFP and we might see USD continue dropping before NFP.

Pattern Identification

We have a bullish shark pattern completing on the H4 chart on USDCHF around 0.9850 - 0.9860.

This is a zone of interest where Shark pattern traders might be interested to go long.

Trade Execution

Before entry, I will have to see a rejection of the PRZ in the form of a pin bar of engulfing candlestick pattern.

SL and TP are indicated on the charts, this is a potentially a 1:2.3 Risk to reward trade.

This pattern will be invalidated if price does not react at PRZ and goes straight to the SL level.

2017년 3월 8일

주문취소됨

The price bounced off the 50% CD retracement, completing a 5-0 pattern.

For the 5-0 pattern, we usually target the 2.0 BC extension as our profit target.

I expect USDCHF to hit 1.0220 soon.