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USDCHF - Downward trend will continue, Short trade by market price recommended

December 2, 2021 6:38:58 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9210)
6:32
6:32
Dec. 2, 2021
-60 p
0.9270
Stop Loss
0.9210
Entry
+65 p
0.9145
Target 1
Chart & Analyst Comments
main-sell-market-trend-1
  1. Majority of traders are still holding onto Longs. This means we should continue to Sell USDCHF.
  2. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  4. MVP line is above the price and acts as a resistance level.
  5. The risk-to-profit ratio allows us to set Take Profit for a Short trade at 0.9145
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