USDCHF view as on D1
The triangle pattern marked is indicated by the MT4 indicator Markup Buddy. This indicator is excellent in drawing key support and resistance levels where chart patterns then come forward.
# For more information on Markup buddy please read here www.profitfxza.com/markup-buddy
See my analysis below while using this tool:
# Clear breakout of the resistance level
# Clear retest of resistance as support
# Pin bar printed signalling bulls taking control
I will look to buy when price has pulled back to the mid level (50% retracement) of the said pin bar before looking to buy
# Buy limit at 1.01617
# Stop loss below the 1.01308 support level
# Targeting 550 pips as per the ascending triangle pattern
This trade will offer an excellent risk to reward ratio (approx 1:10) so the cost of opportunity is worth the risk.
The triangle pattern marked is indicated by the MT4 indicator Markup Buddy. This indicator is excellent in drawing key support and resistance levels where chart patterns then come forward.
# For more information on Markup buddy please read here www.profitfxza.com/markup-buddy
See my analysis below while using this tool:
# Clear breakout of the resistance level
# Clear retest of resistance as support
# Pin bar printed signalling bulls taking control
I will look to buy when price has pulled back to the mid level (50% retracement) of the said pin bar before looking to buy
# Buy limit at 1.01617
# Stop loss below the 1.01308 support level
# Targeting 550 pips as per the ascending triangle pattern
This trade will offer an excellent risk to reward ratio (approx 1:10) so the cost of opportunity is worth the risk.