Sascha_Gogolin
Long

USD/CHF - Closing in on a long term resistance zone

FX:USDCHF   U.S. Dollar/Swiss Franc
Even though we are getting close to a daily resistance zone I think there is a short-term upside potential. The latest bull run has been almost uninterrupted by the bears and they most likely won't be able to stop it with just one try. So expect increasing volatility before this thing turns around.

For now I am looking to get long if price makes it back to the bottom of the short-term corrective structure around 0.98900 with my first target around 0.98900 and my secondary target all the way up at the top of the resistance zone around 0.99400.

If we don't get the pullback I am waiting for = No trade.
Trade closed: target reached: First target reached as the bottom of the structure held and attracted some bullish activity. Now it looks as if the structure short term has changed and we might see a push through the bottom of the structure before we continue north. Therefore I have move my stop on my second position to break even.
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