Hey Guys,
Based on the chart, it seems to a have good buy opportunity on USDCHF and it would be good to hold it for following days. So let's go more details on what's going on the chart:
1. There is a strong bullish Engulfing candle (Bullish)
2. Price is making higher highs and higher lows which means we are in an uptrend (Bullish)
3. Price is close to our Bullish trend line (Bullish)
4. Price reached to 0.618 Fibonacci of the pervious wave (Bullish)
So based on these scenarios I prefer to be buyer at this level (Which can be a good risk reward setup) and hold it for more upward movements.
However at the moment I don't see any bearish signal (Based on my analysis) but anything can be possible and we have to respect risk management rules.
Any idea would be welcome.
Thanks for being and supporting us.
Good Luck!
Based on the chart, it seems to a have good buy opportunity on USDCHF and it would be good to hold it for following days. So let's go more details on what's going on the chart:
1. There is a strong bullish Engulfing candle (Bullish)
2. Price is making higher highs and higher lows which means we are in an uptrend (Bullish)
3. Price is close to our Bullish trend line (Bullish)
4. Price reached to 0.618 Fibonacci of the pervious wave (Bullish)
So based on these scenarios I prefer to be buyer at this level (Which can be a good risk reward setup) and hold it for more upward movements.
However at the moment I don't see any bearish signal (Based on my analysis) but anything can be possible and we have to respect risk management rules.
Any idea would be welcome.
Thanks for being and supporting us.
Good Luck!