EUR/CHF: Daily bearish engulfing candle pushing the price down


EURCHF

EUR/CHF had a very bearish day yesterday. Yesterday’s daily candle engulfed day before yesterday’s candle. As a result, today’s intraday price action has been bearish. On the H1 chart, the price made a breakout at yesterday’s lowest low. Now the pair is trading below the breakout level. If the price goes back to the breakout level and it produces an H1 bearish reversal candle, selling the pair below today’s lowest low may get some green pips to the sellers.

 

Trade Summary

Entry: Sell below 1.09700

Stop Loss: Above 1.09790

Take Profit 1: 1.09550

Take Profit 2: 1.09450

Take Profit 3: 1.09325

 

Please Note:

The price is to start having upward correction around the level where it is now. The price may hit Take Profit 1 in a hurry but may take some time to hit Take Profit 2 and Take Profit 3. Partial profit (50%) may be taken out at Take Profit 1.

 


 

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