USDCHF - Head & Shoulders Pattern @ Trendline

Hi Traders!

The setup of this idea is that the market is now at the weekly Trendline.
There, it formed a Head-and-Shoulders Pattern, which indicates a down-movement.
At the same time, the market is in a bearish Flag.
The Breakout of this flag could possibly serve as an Entry Trigger.

You can take profit at the next major Support, which would be the weekly TL or the Support @ around 0.91200


Here are the things again in nutshell:

• Weekly Upper Trendline
  
• Head & Shoulders Pattern
  
• (Break of) Daily Support at around 0.92200
  
• (Break of) Bearish Flag Pattern
  

If you have something to add or another point of view, do not hesitate to comment!



Thanks and successful Trading :-)!

Kommentera:

Just for the overview ;-)