USDCHF, Trading In Huge Triangle, Possible Breakout Ahead!

Hello Traders Investors And Community, welcome to this analysis where we are looking at USDCHF 4-Hour timeframe the recent price-action, current formation-situation, and what we can expect the next hours and days from the pair. The last times USDCHF was in a protracted downtrend with several bearish moves pushing the price to the downside, in this case, it will be a big question if the trend succeeds to reverse into the bullish direction or bears continue to push the price downward, this is important to know for taking appropriate action to profit of the situation and possible reverse situation arising. I made some interesting and meaningful observations that will determine this outcome further with targets ahead.

As you can watch in my chart USDCHF just build up this giant descending-triangle-formation with the upper and lower boundary marked in blue where it touched the boundaries several times and now setting up for the third major lower boundary fill, therefore there is a higher possibility given that when the price reaches this range which you can see marked in my chart with the orange boxes to bounce there and test the higher boundary another time, a factor which is also supporting this bounce is the 78.6 % Fibonacci-support in this level making it more possible. This will confirm when the price stabilizes in this range and forms upward movements pointing to the upper boundary of the triangle.

Taking all these factors into consideration there is a high possibility given that the descending-triangle-formation confirms properly which will happen when the price moves above the upper boundary in a high volatile move and confirms further the upper boundary with either a small pull-back or a longer stretched pull-back. When these scenarios playing out accordingly USDCHF will activate the upside targets overall lying above 0.965. The anticipated breakout with confirmation can be traded either aggressive with immediate entry or conservative with entry after confirmation, although the aggressive approach is also possible here the conservative should be the better option at the end.

In this manner, thank you for watching, support for more market insight, have a great day, and all the best to you!
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Information provided is only educational and should not be used to take action in the markets.