USDCHF has a nice pattern compared to many other dollar pairs that I am watching. Really like it on the daily chart with lower highs and lower lows, and then seeing the trend begin to exhaust at a major flip zone.
From here, we created a double bottom pattern and also broke above the 0.9750 zone. Recently, we retested the breakout zone and expect a run to 0.9850. TO be clear, a retest is confirmed with a break and close above previous highs. In this case, the previous daily candle close did close above previous open, but did not close above the previous high. That is one reservation I have about the trade.
However the pattern and risk vs reward are good for me.
From here, we created a double bottom pattern and also broke above the 0.9750 zone. Recently, we retested the breakout zone and expect a run to 0.9850. TO be clear, a retest is confirmed with a break and close above previous highs. In this case, the previous daily candle close did close above previous open, but did not close above the previous high. That is one reservation I have about the trade.
However the pattern and risk vs reward are good for me.