Wait and See Double Top at Zone ( USDCHF Bearish Potential )
Reasoning ( at Scenario 2) :
- The Area between 0.92005 and 0.91801 has been tested at multiple time (See chart D1)
when the price touches this area, the price goes back down.
- The price dropped and touched the 200 EMA, the possibility of the price going back down or sideway near this area.
- The price has broken out forming a lower LL value (see TF H4)
- EMA 50 line is moving narrower closer to EMA200
Condition :
- wait and see If the price forms a Double top in the area of value 1 (TF H4), see top 2
- Prepare for entry IF PRICE Break the suport area at TF H1 (0.91801) at Scenario 2, and bearish candle confirmation close below
this area.
Entry :
- Under 0.91801 (details see Time Frame H1)
Stop Loss :
- Above 0.91984 + 15 Point
Take Profit
- Target 1 : Near EMA200
- Target 2 : Near support area under EMA200
- Target 3 : Area Of Value 2 (see Picture)
Risk : Reward = 1:1 or 1:1,5 (be Flexsible)
- The Area between 0.92005 and 0.91801 has been tested at multiple time (See chart D1)
when the price touches this area, the price goes back down.
- The price dropped and touched the 200 EMA, the possibility of the price going back down or sideway near this area.
- The price has broken out forming a lower LL value (see TF H4)
- EMA 50 line is moving narrower closer to EMA200
Condition :
- wait and see If the price forms a Double top in the area of value 1 (TF H4), see top 2
- Prepare for entry IF PRICE Break the suport area at TF H1 (0.91801) at Scenario 2, and bearish candle confirmation close below
this area.
Entry :
- Under 0.91801 (details see Time Frame H1)
Stop Loss :
- Above 0.91984 + 15 Point
Take Profit
- Target 1 : Near EMA200
- Target 2 : Near support area under EMA200
- Target 3 : Area Of Value 2 (see Picture)
Risk : Reward = 1:1 or 1:1,5 (be Flexsible)