After a nice breakout since Jan 15th, USDCHF bullish run on the H4 chart seems to be losing some steam and momentum. On the 23rd of Jan, the big red candle signifies the change the trend. Although the Bulls tried to make a comeback, the 20 SMA line provide dynamic resistance and pushed the Bull back. Another Big Red Candle bar confirms that the Bears meant business and it's looking more likely that the Bears are now ready to push USDCHF down south.

How I Became a Consistently Profitable Trader - Now You Can Too as well! At current price (0.99181), we will enter into a short position for USDCHF as we believe that the Bears will push this a little further south.

• Entry: 0.99181
• Stop Loss: 0.99550
• Take Profit: 0.98950

This trade is based on the 4 Hour time frame and is a little more time sensitive. If you missed this trade, it's ok as there will be plenty of other trades that's based on the Daily time frame and that is less time sensitive. If you have enjoyed this trade or have questions, please post your comments below. If you like to get a copy of the Elite Swing Trader, then click here to learn more.