USDCHF has been moving in a bullish uptrend for some time now.
There are several factors involved in the desicion to take a long position, but mainly I have used price action.
- Price is in an uptrend, and is following a bullish trendline.
- Price broke resistance, retested and has begun pushing higher. Indicating strength in the buyers.
- At the broken resistance (now support) point, D1 candles have pushed to new highs and higher lows.
The next key point is a good stint away which could give us a good trade should price move in our favour.
There are several factors involved in the desicion to take a long position, but mainly I have used price action.
- Price is in an uptrend, and is following a bullish trendline.
- Price broke resistance, retested and has begun pushing higher. Indicating strength in the buyers.
- At the broken resistance (now support) point, D1 candles have pushed to new highs and higher lows.
The next key point is a good stint away which could give us a good trade should price move in our favour.