USD/CHF: A Potential Long Trade Setup On The Horizon
A potential double bottom that has formed. To see if this is true we need to wait for a break above the neckline to have a true breakout entry.
There is also a daily divergence with the RSI, which is another confluence factor for the long bias with a nice rejection of this daily support level.
Aggressive traders could enter at the break of the trendline (Falling Wedge Pattern), but this comes at a big risk since there is no higher highs or higher lows formed at present.
For a more secure entry, once price breaks above the neckline, pullback or continuation traders can look for additional entries. However, as usual, it comes with a risk: The trade could push on without you.
Trade safe and remember, this is only an idea and not financial advise. Always remember to use proper risk management.
There is also a daily divergence with the RSI, which is another confluence factor for the long bias with a nice rejection of this daily support level.
Aggressive traders could enter at the break of the trendline (Falling Wedge Pattern), but this comes at a big risk since there is no higher highs or higher lows formed at present.
For a more secure entry, once price breaks above the neckline, pullback or continuation traders can look for additional entries. However, as usual, it comes with a risk: The trade could push on without you.
Trade safe and remember, this is only an idea and not financial advise. Always remember to use proper risk management.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.