Wait For A Corrective Pullback Before Going Long on USDCHF
This short-term uptrend in USDCHF is in the process of consolidating near it's highs of the past couple of days. We have seen two corrective pullbacks of 17% and one of 16% within this uptrend which has spanned 280 Pips.
We will be looking for a pullback of approximately 17% or approximately 50 Pips from the consolidation zone before initiating a Long position. This targeted purchasing area also coincides closely to the figure of 0.96000 which should act as support.
Targets are your call. Stops should be place 50- 75 pips lower from your entry price or just below an area of the chart which you think will act as support.
We will be looking for a pullback of approximately 17% or approximately 50 Pips from the consolidation zone before initiating a Long position. This targeted purchasing area also coincides closely to the figure of 0.96000 which should act as support.
Targets are your call. Stops should be place 50- 75 pips lower from your entry price or just below an area of the chart which you think will act as support.