USDCHF - 60min Timeframe - Buy Opportunity

USDCHF seems to be breaking out of the extensive 4hr correction it has been in, to the upside. If the breakout that seems to be happening out now is confirmed, the pair will go and retest the previous top in the 1.0057 area. This is a relatively small movement, however very interesting and could happen fast giving a small but speedy profit. For very advances traders who have their back fully covered and like to speculate, as the stop loss in this one is very far away at the moment. Otherwise it is better to go for a more conservative approach: wait for a first impulse to the upside, wait for a small correction of said impulse on the 60min timeframe, and buy the break of said correction with a stop loss beneath it.

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Comment:

We are taking profit soon as the pair will not necessarily break the top at 1.00571, and we expect it to fall strong towards the 0.975 area to complete the corrective structure. Trade with care.

Comment:

Trade closed: target reached