11.6 EUR/CHF Analysis

This post is for those who are trading the True North Concepts and/or FreedomRocks Hedge.

Image below is a EUR/CHF "daily" chart. This might take days or a week to complete its formation.




- Double top is forming (1 & 2), which means a strong reverse down is about to happen if price break and closed below the neck line (orange line).

- Short & long term Stoch is pointing down.

- CCI just entered its oversold zone.

- ADX shows rising of bearish momentum and volume.

If price broke and "closed" below the neckline, we might see the price down to 1.6500 or 1.6425. That's 50% and 61.8% fibo of the previous swing up.

However, if it fell to break the neckline and bounce off the 32.8 and 72EMA (lavander line), we might see a continues uptrend. Pay attention to the 2 tops levels then, for it might form a flag (wedge) formation from there.

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