USD/CHF had a bearish day yesterday. The price had a strong rejection and closed with a long upper shadow. The price of the H1 chart made an upward correction. It seems that it may have found its resistance. As of writing, the last two candles have been bearish. If the price continues to go towards the South and makes a bearish breakout, the sellers may get a chance to go short on the pair.
The chart produced a bearish engulfing candle at the level of 0.96900. If the price makes an H1 breakout at the level of 0.96740, the sellers may trigger a short entry upon the breakout confirmation.
Trade Summary
Entry: Sell below 0.96740
Stop Loss: Above 0.96900
Take Profit 1: 0.96490
Take Profit 2: 0.96385
Take Profit 3: 0.96245
Please Note: The price has a lot of space to travel towards the downside. Thus, the sellers may consider taking partial profit at Take Profit level 1, 2, 3 and let the rest of it run to grab more pips.
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