coming from a slow week last week we are now getting another setup. USDCHF is retesting the recent horizontal support zone with a lowtest, while also rejecting the major 0.5 Fibonacci retracement level. A 50 EMA retest would've been awesome, but this price action is enough for me to justify an entry. With 5 confluence factors this trade is a B in my category, and thus its fitting my trading plan.
The stop will be set below recent price action, the target is set at the recent highs and the next horizontal resistance level.