USD/CHF – clean downside potential

 

Taking a look at USD/CHF here and it has a real clean set up forming with some great risk to reward potential.

 

Recently we had an ascending channel on this pair that ran from middle of August to the middle of October. Price eventually broke out of this to the downside and has now formed a nice corrective Daily channel as you can see in the screenshot.

The price action that we have seen here has been very clean and respected the structure well so far. With prices now sitting at the top of the channel I am watching closely for sell setups to take us back towards the base.

 

Depending on your trading style and entry, you could be looking at around 5 to 1 on this position. I do not currently hold a position here but I am monitoring this for an entry.

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