daytradersfx

9950- make or break (big move coming up)

FX:USDCHF   U.S. Dollar/Swiss Franc
9950 is such a big level for USDCHF             , if this holds we could see a nice bounce.

BUY SIDE:
I highlighted what could be an inverted hammer (depending on how the daily candle closes) if we keep a bullish body to the candle, 9950 could be a major bounce level for a big move higher, with tight stops below 9950.

SELL SIDE:
if 9950 doesn't hold I think the break lower will be severe, 9650 looks like the next best place to target.

Summary:
If there's a convincing bounce off 9950 i'll buy in with tight stops below 9950. IF it goes flat and breaks, i'll sell the break of 9950 targeting 9650 while locking in profit along the way.

There's big news this week that could cause lots of USD volatility so this will be tricky to trade, I'll update as things move forward.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out