girolamoaloe

USDCHF Used Supply and Bullish Pattern

FX_IDC:USDCHF   US DOLLAR / SWISS FRANC
The Supply Level on USDCHF             shows its own weakness. So, watching the Chart, in the third test of the Supply level the price moved higher going out of the old used Supply level . It marked a new and larger Supply Level absorbing the old one on the monthly time frame.

If you missed my last Webinar, go here

Definitely the Demand willing is dominating the Price Action.

On chart everything is properly described.

What do you expect for this currency?

Thank you

girolamoaloe.com
Comment: Note

It is a very long-term chart. The expectation is that it could take out the supply and go up more. But If the price will get a strong reversal reaction in the supply, it could continue to follow the long-term bearish trend. It is just in the highest edge of the bearish channel, then It could retrace back to continue the bearish behavior for many months again.

In practice, if it stay bearish it will stay inside the range between the supply where it is now and the demand in the bottom, for a very long time. If it will take out the supply it will try to approach the highest supply in the chart.
i am on short side for around 300 pips
but will check your webinar if top gets taken:)
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girolamoaloe trader515
it is a very long term chart. it can bounce back as you can see following the trading plan drawn in the chart (ABC). it is expected. it can spike in a few months so as it can drop to the trend line or stay in the large range. but all these things are actions that take months.
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