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UsmanFarouk

USDCHF is likely to make a Bearish Reversal on 1H and 4H TFs

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Dolar A.S. / Franc Swiss (OANDA:USDCHF)  
UsmanFarouk  
OANDA:USDCHF   Dolar A.S. / Franc Swiss
Trend Analysis Harmonic Patterns Chart Patterns
5
2
trendanalysis harmonicpatterns chartpattern
The pair is in uptrend and has been printing HHs and HLs on 1H and 4H timeframes. However, it has recently shown a bearish divergence on RSI on both timeframes. Using the principles of DOW theory and timeframe confluence, I have drawn a short bias and established my short entry on break below last HL, as marked on the chart in BLUE. A RRR of 1:1 has been maintained for the position, with TP and SL marked on the chart.
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