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USDCHF - Intraday Idea - Break of ChannelHi Traders! The market is ranging. Key Areas: Resistance @ 0.95253 weak Resistance @ 0.94881 Support @ 0.94103 Parallel Channel - descending, active Category: - Intraday Idea - Shortterm Trading - Catching Small Movement - Break of Channel Description: The market in not in a Trend, so we can either Buy or Sell. As you can see the market is moving between some Key Areas; these are the Support and Resisitance Levels in blue. It was moving down (first arrow), than up (second Arrow), than down again (last Arrow). Now it is still in the Down-Movement. The Down-Movement is in the pattern of a Parallel Channel. The Trading Trigger is the bullish Break of the Channel. We only want to catch a small movement, that's why we set our TP at the next weak Resistance. The SL is under the blue Support. We recommend to trade the Breakout on a closed candle. Thanks and successful Trading :)!
by swissmoneymakers