USDCHF Forecast and Potential Cypher Trade Setup 11th April 2014
Daily Chart
- On a Daily Chart we could see a huge fall continuous for 4 days
- Fall from ascending channel
- Looks bearish and some may argue we could find lows as we continue the bearish tone. However I have spotted this cypher pattern which could work nicely due to the fact these patterns if formed at top and bottoms work much better
Hourly Chart
- We have a potential Cypher Pattern
- Stochastics is extremely oversold but remains in the oversold (slight divergence) - this doesn't mean anything but still in a bearish mode
- RSI - slight divergence where its starting to head up above 30
Outlook Trade opportunity
I would place Long trade now with stops below the X
Risk Level Medium
Tips -
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