In today’s video, we’re diving into a short trade setup for the USD/CHF currency pair, analyzing key technical indicators that suggest a bearish reversal is on the horizon. Here’s the breakdown of our analysis:
🔹 Trade Details
Entry: Short position at 0.89225
Target: Quick 10-pip scalp
Trade Type: Short with a focus on reversal
🔹 Key Technical Indicators
Wave 5 Exhaustion: Multiple timeframes showing that bullish momentum is running out of steam, signaling a potential price reversal.
Overbought Stochastic RSI: On the 2-hour chart, the overbought reading signals a pullback or correction.
Head and Shoulders Pattern: On the 4-hour chart, a classic bearish reversal formation suggests further downside for USD/CHF.
🔹 Why It’s a Good Short Setup
Technical indicators align for a short position.
Price action and key patterns point to a potential price drop in the near term.
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