Breaking News

CHZ/USDTPERP Potential Downward Movement

CHZ/USDTPERP Long-Term Trend: Bearish

Key Resistance Levels: 0.26050, 0.29521, 0.30000

Key Support Levels: 0.23221, 0.21282, 0.21200

Daily Chart:

The price on the higher time frame is traded inside a support & resistance which are respectively the 0.23221 & 0.26051 USDT marks. The market tested the resistance and failed to break where it left a bar with long wick to the upside (Highlighted by the arrow).

CHZ/USDTPERP Medium-Term Trend: Bearish

4-Hour Chart:

On the lower time frame, the price succeeded to break the bullish channel to the downside, and an inverse head and shoulders is formed. We expect a higher correction to the highlighted zone before a new impulsive wave to the target profit.

Signal Idea:

Sell Limit Order @ 0.25448

TP 1 @ 0.23256

TP 2 @ 0.21282

Stop Loss @ 109.87

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download My Free Robot

Get your Robot Now!

Free Robot!