On the daily chart of USDCHF, we have a ranging motion across the channel, as we look closer, we see that there is a 4H AB=CD pattern as well as the price is hitting the bottom channel of the ranging zone, when the price hits the bottom of the channel it is also the point of D. I will be buying this when it hits 0.95245, or any price within that zone.
This I gave a very loose stop loss of 0.94439. Anything smaller I feel there maybe a chance of whipsawing your position out of the trade.
Tp1: 0.96577
Tp2: 0.97656
Tp3: 0.98435
This I gave a very loose stop loss of 0.94439. Anything smaller I feel there maybe a chance of whipsawing your position out of the trade.
Tp1: 0.96577
Tp2: 0.97656
Tp3: 0.98435
Comment:
Looks like this plan worked out beautifully.
