CHART PATTERNS: BEARISH SETUPS ON USDCHF AND AUDJPY

I have had to wait awhile for these setups to fully develop; after all, a trader learns to be patient and quick – such complexity.

So, they formed and I have a good feeling about their prospects.

SELL USDCHF: CONFLEUNCE OF DEMAND CHANNEL (BLUE CHANNEL) AND SUPPLY CHANNEL (RED).

The confluence of the channels is the selling point and I intend to set the target the support of the blue channel while stop loss will be set above the most recent swing high.

SELL AUDJPY: FIBONACCI CLUSTER IN CONFLUENCE WITH ANOTHER FIBONACC CLUSTER

I always knew the trend line had to be tested if a decline was ever to happen. I will go short immediately after a reversal bar forms on the trend line.

About Moshow

Oseni Moshood ( Moshow) is a physicist, a blogger and a spot trader with years of experience. He trades only price actions partly because he thinks Economics is boring; or, probably because he failed Economics; and he loves fine artistic works.