USD/CHF - HISTORY REPEATING ITSELF? OR I'M JUST SEEING THINGS?

The pair has formed an Inverted Candle at a key level (Top of Descending Channel which has a confluence with Major Resistance Level) but at also at a Key Time Frame (D Chart). Could this be a Stop Run? We can see a very similar scenario occurring in the past and almost the same exact technique (Stop run) was employed before reversing the pair to the downside for a mere 400 pip move. Therefore there are many reasons that make me believe that we could be seeing a big move to the downside, all the way down to the 0.945xx levels. As further confirmation we can also see that Bearish Divergence is forming on the Stochastic.

Trade safe and implement your own due diligence before executing a trade.

Kommentera:

Not falling for the breakout. The price marked a new higher high but the Stochastic is showing lower highs...