Gold-Tech

💱USDCHF - Double bottom in tandem with a triangle

Long
FX:USDCHF   U.S. Dollar / Swiss Franc
USDCHF forms a double bottom, which plays the role of a reversal pattern relative to the support 0.89000. The price makes a retest of the pattern base. Breakout of the level will start the implementation of the reversal pattern

TA reversal pattern on the high timeframe:
1) Buyers begin to buy out the price without waiting for the retest of the range support.
2) The trend is neutral as the price is in flat.

TA on a low timeframe:
1) A triangle pattern is forming on the 1H timeframe. The price breaks the figure and makes a retest of resistance 0.90000
2) The mentioned resistance plays an important role regarding the pattern "Double bottom", which is formed at the level of 0.89000. 3) A break through 0.9000 will start the realization of the pattern "double bottom". In this case the price will make an impulse for growth towards 0.91000.

Key support📉: 0.89656
Key resistance📈: 0.90000

All about GOLD🥇
Trading Tips💡
Secrets of🔑
Analysis📊
Forecasts🔔

FREE TELEGRAM:

🌹 Telegram channel: t.me/Go1dTech

😍 My contact: t.me/GoldTech
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.