Potential drop for USDCHF - Daily RSI overbought

Big opportunity for selling USDCHF. As you can see, the pair has reached a resistance in the daily chart, and the pin bars are showing this resistance. Also, the RSI is clearly overbought and the MACD is near a potential bearish cross.

Target is on the lower trend line of the current formation. However, I would consider to take profits before, perhaps around 1.0025, as economic data release could put a break on this move, if it plays out.

Zlecenie aktywne:

So far so good, breaking the 50EMA in the 4h chart

Zlecenie aktywne:

Moving SL for a free non -risk trade :)

Transakcja zakończona: osiągnięto poziom stop:

The FED statement 2 days ago had too much impact for the dollar. I will re evaluate again and perhaps wait for this last move to lose momentum.

Zlecenie aktywne:

After closing a 4h candle pin bar, open again trade at 1.0267.

TP1 - 1.01093
TP2 - 1.00702

Zlecenie zamknięto ręcznie:

Both targets, TP1 and TP2 hit :)