Fxprotrader
Long

USDCHF A Small & A Big Trade Setup

FX:USDCHF   U.S. Dollar/Swiss Franc
463 5 26
After a massive drop USDCHF             is about to reverse. Price is moving into a descending channel and will probably make one more down move to test the lower bond of the channel if it breaks the small correction. This may be a good short term trade. Our main trade though should be a buy after price breaks above the channel. We should then watch for a buy setup and go long with USDCHF             .
Comment: Price broke above the upper bond. Watch for a buy setup..
Nice chart !! how do you identify the target (38,8%) ? anyway compliments for your chart I follow you
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Fxprotrader francis_749
Thank you Francis.. This fibonacci has nothing to do with the profit target.. I just drew the arrow.. Actually i fibbed the previous impulse to see where price stands.. But this level is a realistic target if you ask me..! have a nice day..!
+1 Reply
francis_749 Fxprotrader
ah I understand thank you
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Do you think that the push back to 0.97 still valid?
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Fxprotrader Luis Tavares
Price is in a sideways correction.. Price may go both ways
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