
If you were able to identify the USDCHF Short trade set-up and took the trade, that’s great.
On the Hourly chart above, we could notice the sharp upward retracement from where price initially bottomed @ 1.0721 to the exact level of fib. 61.8% ret. @ 1.0757. If your Limit Order wasn’t placed around the fib. 50% ret. level @ 1.0750, or a few pips below 61.8% level, you would have missed the trade. I missed it by a whisker. It could be very frustrating.
As we could see, as price sharply retraced upward, with almost the same momentum, it reversed downward all the way to hit the primary profit target @ 1.0706 (the fib. 127% ext.); then continued its “mad” rush further downward to hit the secondary target @ 1.0686 (the fib. 161.8% ext.).

P.S.:
This trade was fully supported by the H4 chart price action.
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