USDCHF Strong Breakout Setup - Possible Buy Trade
Hello Everyone!
Looking at the lower time frames USDCHF is making new lows and lower highs, so far price has reached mutli-sessions downtrend line where I see hidden divergence, there are possible 2 cases here,
Case 1:
Market may fell and makes a double bottom and then carries on testing prior highs, so in this case execute trade once it breaks the trend line.
Case 2:
Keeping bigger picture in mind, where momentum is positive on higher time frames, scope is there that the market may break out the trend line and visits the highs straight away, in this case wait for an expansion bar, breaking the trend line and closing above it.
This is it for now, hope it helps understanding the idea.
Thank you for your support.
Good luck and trade safe!
Looking at the lower time frames USDCHF is making new lows and lower highs, so far price has reached mutli-sessions downtrend line where I see hidden divergence, there are possible 2 cases here,
Case 1:
Market may fell and makes a double bottom and then carries on testing prior highs, so in this case execute trade once it breaks the trend line.
Case 2:
Keeping bigger picture in mind, where momentum is positive on higher time frames, scope is there that the market may break out the trend line and visits the highs straight away, in this case wait for an expansion bar, breaking the trend line and closing above it.
This is it for now, hope it helps understanding the idea.
Thank you for your support.
Good luck and trade safe!
Trade active:
Like I mentioned to watch out for a double bottom.
