USD/CHF – 1H – SELLThe combination US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline down.
The bearish trend downwards to the next support at 0.89126 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.90214 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Outside Down’ candle pattern is detected. The candles form ‘Three Outside Down’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.90214 |
| Current Price | 0.89955 |
| Next Low | 0.89126 |
| 2nd Low | 0.88984 |
| 3rd Low | 0.88161 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Down