📉 NZD/CHF Trade Idea – Bearish Setup (Daily Chart)
Price is respecting a strong downtrend, forming lower highs and lower lows. Currently approaching a key resistance zone near 0.4850–0.4875, aligned with the descending trendline and 50–61.8% Fibonacci retracement.
🔹 Trade Plan:
Bias: Bearish
Entry Zone: 0.4850–0.4875
Stop Loss: Above 0.4935
Take Profit 1: 0.4700
Take Profit 2: 0.4635
This setup offers a solid risk-to-reward ratio, with confirmation expected on bearish rejection at the pullback zone.
Price is respecting a strong downtrend, forming lower highs and lower lows. Currently approaching a key resistance zone near 0.4850–0.4875, aligned with the descending trendline and 50–61.8% Fibonacci retracement.
🔹 Trade Plan:
Bias: Bearish
Entry Zone: 0.4850–0.4875
Stop Loss: Above 0.4935
Take Profit 1: 0.4700
Take Profit 2: 0.4635
This setup offers a solid risk-to-reward ratio, with confirmation expected on bearish rejection at the pullback zone.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.