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Long

USD/CHF Bullish Crab Pattern

OANDA:USDCHF   U.S. Dollar / Swiss Franc
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USD/CHF Bullish Crab Pattern

A bullish Crab pattern on USD/CHF which still has bullish
potential. Currently however it is forming a head & shoulders
pattern, which is holding back the bulls.

If price closes above 0.95701 (high of 20.03.18) then look to
enter long targeting Point B of the Crab pattern . This is a
significant level because it is where the 55 SMA crossed
below the 200 SMA , thus, creating a bearish trend . I expect
this level will be absolutely crucial for future price direction.
A close above 0.97356 would expose 0.9978 above, and
most likely even higher from there.

Keep an eye on the USD Index, currently it is rising,
however that could be due to economic data being
published later in the day.

Trade 1 ( RvR Ratio 2:1)
Entry: Close above 0.95701
S/L: 0.94875
T/P: 0.97356

Trade 2 ( RvR Ratio 2:1)
Entry: Close above 0.97356
S/L: 0.96144
T/P: 0.99780

Happy trading
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