DLavrov
Long

USDCHF Flag Chart Pattern

FX:USDCHF   U.S. Dollar / Swiss Franc
The price is above the cloud and DMI is bullish and it confirms trend market conditions. We have an uptrend and the price forms a flag chart pattern which belongs to continuation patterns. We should expect a breakout above the upper line of the flag. It will give us a buy signal with entry level at 0.95100 and stop orders at 0.94500 level. Take-profit orders should be placed at the downtrend line and 0.97000 resistance level .
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The flag is broken, now the price is going to re-test the trendline, any update @DLavrov ?
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DLavrov MarcelMartins
@MarcelMartins, if the price bounces from the uptrend line, it will be possible to buy. Stop below the local swing low and the uptrend line. Profit targets should be the same.
+3 Reply
@DLavrov, I hope ur target hit
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