Early this week (well, actually while making my watchlist this weekend), I spotted a very nice setup on the USDCHF 4H charts. It had all the characteristics of a solid reversal setup and I was waiting for for my entry criteria to be fulfilled:
As expected, $USDCHF 4H retraced back into previous support-turned-resistance, showing some rejection of this level. Waiting for a solid bearish signal to potentially short this one. #forex#tradingpic.twitter.com/BJqJVV3w5b
— Felix De Vliegher (@smartfxlearning) November 13, 2017
On Tuesday, we got our solid bearish signal! A massive bearish engulfing bar was printed, so once I saw this, I got in. I actually managed to get a slightly better entry than the close of this bearish engulfing candle, but the idea is the same.