I’ve been keeping an eye on the USDCHF for a while.
Price has taken out the previous swing high and has now broken a supporting trendline.
This is the confirmation I needed to take a short against the Weekly Bias on this pair.
The daily looks prime for a correction to the extension targets.(see green arrows) before the BULLS re-enter long.
USD/CHF - SHORT
Swing trade
Limit order
Sell: 9922-9935
Stop: 9981
Target: 9972 then 9926
R:R 2:81
Entry on the 4hr chart is indicated by the overlapping upward and downward sloping trendlines. The USDCHF is a tricky pair to trade and can be volatile this is why your stop needs to remain above the level suggested.