Pronoe

EURCHF Bearish Butterfly Pattern OR Descending Triangle

FX:EURCHF   Euro Fx/Swiss Franc
I expect the price to continue its uptrend for a day or two until it reaches the .382 retracement level, at which point it can then go either way

- The price will break above the .382 retracement level in which case I'll go long expecting a take profit around the top of my Fibonacci retracement.

or

- The price will bounce of the .382 retracement level in which case I'll go short if it break below the .500 retracement level expecting a take profit around my support area

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