USDCHF, the previous S/R levels. Long

USD/CHFOANDA

Description

⋅ Apr 9, 2024 10:08 AM

USDCHF / 1D

Hello Traders, welcome back to another market breakdown.

USDCHF is trading in a downtrend. However, the price bounced back from a Macro level which sent the price up changing the current trend.

Probability suggests we get at least a few more sideways for now down then another leg higher.

Check out the chart for what I'll be waiting for after price action confirmation on LTF.

Trade safely,
Trader Leo.

Comments

PrimeTrading

⋅ Apr 11, 2024 8:05 PM

I like this idea!
I'm very bullish on the USDCHF (longterm) so would buy any pullbacks.

Leo-btm

⋅ Apr 14, 2024 3:36 PM

@PrimeTrading I need a deeper pull-back for a swing

PrimeTrading

⋅ Apr 14, 2024 9:34 PM

@Leo-btm, Sounds good!

ICmarkets

⋅ Apr 10, 2024 7:12 AM

I suspect that the identified demand zone aligns with a rising trendline support, which is a good indicator of bullish momentum entering the market. It appears the price is above the Ichimoku cloud, which is another sign of bullish momentum. I like to see that you are buying on the pullback. Let's see how this plays out.

Leo-btm

⋅ Apr 10, 2024 4:01 PM

@ICmarkets I appreciate the feedback

linofx1

⋅ Apr 9, 2024 5:11 PM

Supported,

Leo-btm

⋅ Apr 9, 2024 5:35 PM

@linofx1 appreciate the support

PMG97

⋅ Apr 9, 2024 4:24 PM

Really nice analysis

Leo-btm

⋅ Apr 9, 2024 5:35 PM

@PMG97 appreciate it mate

LegionQ8

⋅ Apr 9, 2024 12:49 PM

Maybe price will continue to grow, without correction? What u think?