FXtrades-gp

USDCHF: Reverse Head and Shoulders pattern almost completed!

Long
FX:USDCHF   U.S. Dollar / Swiss Franc
Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis📈 and Trading Tips📉, support the idea hitting the LIKE👍 button and don't forget to SUBSCRIBE✔️ my channel, you won't miss anything!

🟢Forex Pair:
USD/CHF

Technical Analysis:
Since December 2020, the price has been moving getting many rejections on a strong daily resistance zone at about 0.89200, creating a possible inverted head and shoulders pattern.
It is currently re-testing the same level and the next price action around that level will be essential to understand the next market movement.

🔴Conclusion:
The head and shoulders is usually a market reversal pattern, obviously it depends on the circumstance, so I'm confident to see the price getting an upcoming uptrend, breaking through the strong daily resistance zone .
I'll be waiting for a proper breakout before planning my long position.

Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!

⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️

Trade Safe and Responsibly,
Gianni

Comments

Similar thoughts...All the best!!
+1 Reply
@abel11, to you as well, thanks so much!
Reply
thank you for this one!
+1 Reply
FXtrades-gp TheSignalyst
@TheSignalyst, Thanks so much! :D let's wait the market now!
Reply
totally agree with support in usd pairs and pump of them
+1 Reply
FXtrades-gp MMBTtrader
@MMBTtrader, thanks for ur comment! :D appreciate!
Reply
ascending traingle detected
+1 Reply
FXtrades-gp Babenski
@Babenski Yep ! That’s true ! 😁 thanks babenski
Reply
Great analysis. Top notch!
+1 Reply
FXtrades-gp UnknownUnicorn11814166
@UnknownUnicorn11814166 thanks for your feedback! I really appreciate that 😁
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out