USDCHF Price Action Analysis – 24th July 2018 

 July 24, 2018

By  Advanced Strategies

USDCHF has been Bearish on the H4 chart. The price pattern shows that the pair produced a Double Top at a significant level of Resistance and then took a strong Bearish move. Since yesterday, the pair has been having a correction. The price is near a strong level of Resistance. If the pair produces a Bearish H4 Engulfing Candle and an H1 breakout takes place afterwards at yesterday’s lower low, then selling the pair would get us some green pips. Let us have a look at the H4 USDCHF chart.

USDCHF Price Action Analysis – 24th July 2018
USDCHF Price Action Analysis – 24th July 2018

See the level of 0.99380 is a flip over Resistance level. If we get an H4 Bearish Engulfing Candle right from there and an H1 breakout at the level of 0.99000, then the price would head towards the level of 0.98385 without having that many pauses. Let us have a look at the summary of the trade…

  • Sell Stop Order: 0.99000
  • Stop Loss: 0.99380
  • Take Profit: 0.98385
  • Validity: 72 hours
  • Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable

We are in the last week of July. I assume this week could be a little volatile. Thus, if we trade on very tiny intraday charts such as 5M or 15M, we might as well be careful with our entries. We must use Stop loss with every single entry before the trade executed. However, we might not have to be worried that much with our entries that are based on H1 or H4 chart. Let us hope that we maintain our discipline well and be safe with our investment.

USDCHF Price Action Analysis – 24th July 2018

Claim Your $60 No Deposit Bonus Here

All you need is to have your live account verified!
Of course, you need to open a live account...

2 Brokers that we like A LOT!
USD30 from each Forex Broker Below.
Both Forex Brokers have excellent rating!

Broker #1

Broker #2

We use both of these brokers and proudly promote them!

NOTE: Not all countries qualify for these bonuses. Terms and Condition Applies.

Other Analysis Today

Advanced Strategies

Your Signature

related posts:

GBP/AUD Daily Price Forecast – 19th June 2024

USD/JPY Daily Price Forecast – 17th June 2024

GBP/CAD Daily Price Forecast – 14th June 2024

Leave a Reply:

Your email address will not be published. Required fields are marked

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Get in touch

Advanced Forex Strategies