I am expecting the market to go to around 0.9600 and there is a higher probability of it to reverse at .886 Fib level of the previous uptrend at .95740 which also has a trendline(purple) convergence and if it does you can expect a huge up move. It solely depends on the market structure. For now I am short on USDCHF till it moves to long term blue trendline and move to positive stops and see how it plays.
Possible Outcomes:
1. It moves below 0.96583 for sure
2. Reversal opportunities at .96 and .95740, If yes expect it to go above 1.03 on the break of the downtrend line.
Note: I don't give stop loss or entry points as this is not a trade call but a view. Trade with your own tested strategy.Good luck
Possible Outcomes:
1. It moves below 0.96583 for sure
2. Reversal opportunities at .96 and .95740, If yes expect it to go above 1.03 on the break of the downtrend line.
Note: I don't give stop loss or entry points as this is not a trade call but a view. Trade with your own tested strategy.Good luck
Trade active
Trade closed: target reached:
Target 1 reached. LIKE if this helped you. Cheers
Trade closed: target reached:
Target 2 reached. Looking for a buy on the break of the counter TL
Comment:
By looking at the move it is currently making, We can expect a touch of the purple TL or a break. I am going to follow a Break-even strategy on this one
