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forexwithfred

USD/CHF - Potential Double Bottom Reversal Pattern

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Dollar A.S. / Franc Swiss (FX:USDCHF)  
forexwithfred Diupdate   
FX:USDCHF   Dollar A.S. / Franc Swiss
Trend Analysis Harmonic Patterns Chart Patterns USDCHF usdchfidea usdchflong reversal Double Bottom consolidation rangingmarket potentialreversalzone potentialpattern
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trendanalysis harmonicpatterns chartpattern usdchf usdchfidea usdchflong reversal doublebottom consolidation rangingmarket potentialreversalzone potentialpattern
Hello Traders!,
It seems that the USD may begin to gain back some strength, lets see how the currency plays out until the end of the week!
What Is The Market Telling Us?
  • Price has been consoldiating with a 40 pip range between 0.9608 and 0.9648
  • Market may be looking for BUY orders with having 2 bearish FAKEOUTS to trigger it
  • Bulls have been battling the bears to keep price above the 0.9608 support level
  • Potential double bottom has occured, indicating possible reversal of previous downtrend
When Should We Enter?
  • We can enter on the next clear bullish candle that appears above right above the support level
  • This pair is still in a downtrend, so keep your SL tight just incase bearish volatility does come in
  • RISK MANAGEMENT IS KEY!!

Trading ditutup: stop tercapai:
snapshot
Unfortunately we got stopped out in this one
As I stated in my analysis, we kept a tight SL due to this risky counter-trend.
Pernyataan Penyangkalan

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