USDCHF

USDCHF broke out of the bearish wedge for what might be the start of a test of the previous daily high. Key is that this pair moved higher in an impulse and I will therefore be looking for a consolidation followed by a bullish continuation.

The 1 hour time frame shows a potential trade set-up within this consolidation. Hence on the 1 hour time frame we might see a sell set-up first that will complete the consolidation on the daily time frame. Let's see what the market present to us.

Updates will follow.

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Comment:

I like to see a deeper correction before we see the bullish continuation for the set-up on daily time frame. I'll therefore be looking for a bearish break on the 1 hour time frame.
However if it breaks bullish in an impulsive structure we should shift our bias towards a test of 0.98.

For now I'm still looking for sells only.

Comment:

I'll be looking for this consolidation to settle for another bearish break. I took 50% profit at 0.97.

Comment:

USDCHF is consolidating after the bullish impulse on daily time frame. I like to see this consolidation take a little more time before we see the bullish continuation.