USDCHF
Ok, so I can see a clear break of the trend line and it is currently being tested from the under side. So this looks like a classic support and resistance setup.....
BUT
Did you see the massive inverse head and shoulder pattern on the weekly time frame? Did you see the ascending triangle pattern on the Monthly time frame?
My opinion would be to trust the higher time frames as there is lesser noise and the analysis is more "trustworthy". So if the higher time frames are showing strong bullish possibilities it means that the H4 setup could prove to possibly fail
OR
The bullish moves could fail and the bears prevail, price is around a key level after all and anything could happen. I would give it time to see what is indicated through price action before opening a trade...
What are your thoughts? Feel free to share.