USDCHF- Sell idea
Firstly we have a large ascending TL on our weekly time frame, price last week broke below this level, retested and so far rejected, indicating a sell to us.
Then moving down to our 1H timeframe, we have a smaller descending TL where price has also rejected, this also indicates further bearish movement to us.
On top of this we can also identify a bearish flag which has formed, usually indicating a small up trend/pause in the market before further downside movement.
Firstly we have a large ascending TL on our weekly time frame, price last week broke below this level, retested and so far rejected, indicating a sell to us.
Then moving down to our 1H timeframe, we have a smaller descending TL where price has also rejected, this also indicates further bearish movement to us.
On top of this we can also identify a bearish flag which has formed, usually indicating a small up trend/pause in the market before further downside movement.