USD/CHF - Price On The Bottom Of Ascending Channel
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Any and all commentary, research, analyses, or other information published by me on this website are provided as general market commentary, and do not constitute investment advice nor a solicitation and there are no guarantees associated with them. I am not liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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The price is now on the bottom of the USD/CHF ascending channel started in August, there isn't a default trading plan.
The area need to be monitored to react to 1 of the 2 obvious cases:
1 - The price will bounce, so I will wait a bullish pattern to confirm the direction.
2 - The price will breakout the lower trendline, BUT I will wait for a retracement and only then I will short after a
nice bearish pattern
The other thing that I noticed is that the last price inversion was on the 61.8% Fibonacci level (of a 4 months descending trend), so MAYBE a breakout can be statistically more probable.
Any and all commentary, research, analyses, or other information published by me on this website are provided as general market commentary, and do not constitute investment advice nor a solicitation and there are no guarantees associated with them. I am not liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
****************************
The price is now on the bottom of the USD/CHF ascending channel started in August, there isn't a default trading plan.
The area need to be monitored to react to 1 of the 2 obvious cases:
1 - The price will bounce, so I will wait a bullish pattern to confirm the direction.
2 - The price will breakout the lower trendline, BUT I will wait for a retracement and only then I will short after a
nice bearish pattern
The other thing that I noticed is that the last price inversion was on the 61.8% Fibonacci level (of a 4 months descending trend), so MAYBE a breakout can be statistically more probable.