Inside technicals and chart patterns by 
Here are two Autochartist chart pattern alerts that I am setting up for a potential swing short on the USD/CHF that I’m watching.
The swissy is setting up a swing short as both the 15 and 60 minute charts are in a downtrend. The trigger on the 15 minute chart is at the 1.0750 level which is the more aggressive of the two shorts. The 60 minute needs a higher bounce as the trigger is currently at 1.0765.
The downtrend on the 15 minute is transitional as the market cycle is trying to go from the downtrending angle to a more sideways accumulation or distribution cycle. This alone could be reason enough to leave this set up alone and focus on the 60. The other possibility on both chart patterns is for a reversal through the downtrend line resistance. I will go with the trend follow first and often it’s the failure of the trend follow that will trigger the reversal.
hi raghee. great set up on swissy. i have your grab plug in and they are great. how do u calculate your targets 1 and 2 on this trade plan. new to forex thanks hardy
Hello Raghee,
Great setup, caught the tweet and took a look at the charts. I too went with the 60 minute chart and took my entry at 1.0760…I trailed my stop to 1.0735 which on my chart was the 38.2% fib where I was stopped out….great setup…Question…I like how you use the autochartist tool to look for support and resistance…How did you decide to use those two alerts as possible swing setups? As always, thanks in advance for your reply.