Hi traders
here’s another forex trading signal alert which I am keeping my eyes on. Its on USDCHF pair. There’s a potential short trade setup happening.
This is what it looks like on the monthly chart:
And this is what it looks like on the weekly chart:
As you can see on the chart above, its almost near the downward trendline and the resistance level highlighted in blue. I’m will be watching to see if price hits the downward trendline, then I will short it.
Just watch for price action in the daily, 4hr or 1hr timeframe when price hits that level of confluence there. Price Action (PA) can give you a very good short trade entry signal there.
When, trade setups happen in larger timeframes like this, they set of trends that can last for many weeks and months. Want proof? Then here’s and example of that still on the USDCHF Pair:
This setup may make you some good profits so remember to watch it…it may happen in in Januaery 2015?? Who knows…the thing is you can see it happening right before your eyes…that trendline has been respected before, and price may bounced down from it again like it did before. The second things is the resistance levels is also coinciding with that downward trendline. So in my opinion, its a really high probability trading signal happening. Having said that, price may continue going up…
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