Maxun
Long

USD/CHF Over Extended Cypher Pattern

FX:USDCHF   U.S. Dollar/Swiss Franc
An over extended Cypher pattern was created due to the news. The last hour retrace on Friday was mostly caused by traders closing out their positions before the weekend market close. There are two ways you could trade this while placing your stop just below support:

1. Take a long position upon the opening of the market.
2. Wait for a double bottom and take a long position there. (less risky and better R:R)

For you binary option traders I would suggest option 2. A call option for 3 to 4 hours also a end of day call should also be ITM             .

Plan your trade, trade your plan and good luck!
snapshot

agree with you
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out