USDCHF 4HR analysis

Trading Discussion
1

Successive lower highs and then a break and pullback at one my levels.
Normally I would see this as a good place to short however in this instance I wont jump on a short because:

  1. FOMC this evening. Might cause some havoc.
  2. USD strength across a few other pairs.
  3. Lower wicks are making me suspicious. Price has been pushing up and a weaker display from the bear traders is evident.

What are your thoughts?

USDCHF 4HR (16-08-2016).jpg700×391 21.4 KB

2

I completely agree with everything you’ve said, above.

Very nice chart. It wouldn’t take a lot of downward movement from that dotted line (maybe tomorrow?) to interest me in a short entry with a stop-loss just above the line(?).