USDCHF: 4H
Pair is on a recent uptrend. Bounced off of a larger downtrend with 2 touches in the last week. I expect it'll continue to bounce up and down until it makes a break out of this symmetrical triangle.
Still needs time and trendline touches to confirm it's pattern.
If the breakout goes long, make sure to wait for a pullback to bounce off the support/resistance it has passed for entry.
Pattern may continue to go long to challenge the resistance at 0.96347, so if this breaks long, buy in until then.
Entry Point: 0.95267
Pair is on a recent uptrend. Bounced off of a larger downtrend with 2 touches in the last week. I expect it'll continue to bounce up and down until it makes a break out of this symmetrical triangle.
Still needs time and trendline touches to confirm it's pattern.
If the breakout goes long, make sure to wait for a pullback to bounce off the support/resistance it has passed for entry.
Pattern may continue to go long to challenge the resistance at 0.96347, so if this breaks long, buy in until then.
Entry Point: 0.95267
Trade active:
Entry: 0.95271 BUY
S/L 0.94651 (65 pips)
T/P: 0.95901 (63 pips)
S/L 0.94651 (65 pips)
T/P: 0.95901 (63 pips)
Now that is has closed about that line, it will most likely either drop to touch the line again, then jump or it may just jump without a re test.
Safer to wait a couple hours for retest.