For training purposes only. Remember to always trade your plan. USDCHF Daily chart showing a rising wedge pattern that has been broken and retested into an area of support between 0.99700 and 1.0. Daily support level of 0.98944 has been broken. Stoch has been crossed above 80. Moving down to the 4 hr chart. A rising wedge pattern has presented itself with the daily pattern. Currency pair has started to break below lower trendline of pattern. Interesting note to this pair is a gap is still open from June 7, between 0.98827 and 0.98790 creating multiple target zones. I. Target 0.98827 / II. Target 0.97162 / III. Target 0.95749 - Target III is at the the base of the daily rising wedge pattern.
Comment:
Pair has broken and closed below 4hr support level at 0.99700. Entry active at 0.99575.
Trade active:
Target 1 has been achieved
Trade active:
Target 2 has been achieved.