USD/CHF has been bearish on the daily chart for the last four trading days. Yesterday’s candle came out as a strong bearish candle as well. As of writing, the last H1 candle closed below yesterday’s lowest low. Thus, if the next candle closes below the breakout candle, the sellers may go short on the pair and grab some green pips.
Chart 1 USD/CHF H1 Chart
The H1 chart shows that the price consolidated around the level of 1.96765. Upon producing a bearish candle, the price headed towards the South on the last candle and closed below the level of 0.96650. If the current candle (as of writing) comes out as a bearish candle closing below the level of 0.96607, the price may head towards the South with good bearish momentum.
Entry: Sell below 0.96607
Stop Loss: Above 0.96765
Take Profit 1: 0.96465
Take Profit 2: 0.96385
Take Profit 3: 0.96285
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