USDCNH Timeframe: H4
Direction: Short
Confluences for Trade:
- Around Resistance Line of Previous High
- Stochastic Overbought momentum
- Fundamentally, China has seem to be slowing moving towards a psychological level of 7.00.Currently, the previous high proves to provide some resistance and we can take this as a short term opportunity to short USDCNH.
Suggested Trade:
Entry @ Area of Interest 6.9370 - 6.9550
SL: 6.9670
TP: 6.8736
RR: Approx. 2.11 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Trade active
Trade closed: stop reached
Stopped out, gonna move on to the next trade.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any trade decisions taken based on the above opinion is purely at your own risks. DYOR.
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.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any trade decisions taken based on the above opinion is purely at your own risks. DYOR.
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.