week22 CHFSGD bearish close below 2 weeks. Looking to short on rally.

D1

Form the day chart , price reacted nicely from the channel top. It can be seen as a large bear flag in progress, although not yet completed. The bearish day close also flushed two months high. Strength was added to this resistance confluence as there were several 52weeks level that were flushed as well, suggesting a huge bulltrap.

week22 CHFSGD D1 bear flag 230515

h4

Looking at the day to day momentum, there was about 10 days of zig-zag down, with several days of bearish day expansion. As last friday saw a bearish day close below 2 weeks low/ 3 days low , I will be looking for a retracement entry in week22 for an entry.

Ideally, there should be some form of level being tested before entering, near ~ 1.4200

week22 CHFSGD h4  d2d momentum 230515

to be updated.

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