Trade Idea: Bears Form A Inside Bearish Candle On The USDCHF

Important note on charts:

It’s imperative to your trading success, you are trading with a broker that offers “New York Close Forex Charts” where each daily candle opens and closes at 5 pm EST. This is essential with trading price action correctly.

Trade Setup Disclaimer:

All my trade setups provided, is not advice or a recommendation to trade or invest. It is solely for educational and general information only.

Don’t blindly buy or sell the Forex markets discussed in this trade setup. Do your own research and always be aware of the risks and rewards.

Potential Trade Setup: Bears Form A Inside Bearish Candle On The USDCHF

All charts I provide are of the Daily time frame unless stated otherwise.

USDCHF

Trend: Bearish

Key Levels: Broken support key level 0.9803 with next support at the 0.9695

Price Action Signal: Inside bearish candle at the key level 0.9803

Chart Notes: The USDCHF pair has been in a bearish trend, after price started to move sideways. Then broke out in momentum at the support level of 0.9803 after a strong bearish impulsive move.

With a bearish bias that now remains intact, I am watching for future bearish movement.

Potential Trade Idea:

I am considering selling this pair after the bearish inside candle formed at the key level of 0.9803 targeting the previous lows of 0.9695.


Bears Form A Inside Bearish Candle On The USDCHF

This setup will have plenty of free space, giving the trade idea room to head lower to the next key level of support.

I can’t stress enough here, that patient and discipline is the key to any successful trader.

Want to know how I trade this setup?

Then check out my NFXT Superior Trading Course today.

Now is your turn:

How are you planning this setup? What are you looking for to catch the next bearish move with this pair? Just leave any question or comments below.

Recent Content