USDCHF closed on the daily timeframe right on equal highs
This is break and retest strategy
Currently price is below the 0.92000 key level
Awaiting for price to break above and test, there is a small 1 hour resistance right at 0.92000. Once price breaks above this, this is a valid buy. Stop Loss below the support level.
Two scenarios for BTCUSD
- Price broke trend and is now retesting a bearish order block
1) Price will reject the outlined zone and create a new support to continue a new uptrend
2) Price will continue to push down.
Order block on the 4 hour
- I am waiting for support to be created, then will short on rejection of the 4 hour block
- The 4 hour block was created when equal highs were broken, identified by the arrow.
- A strong bearish candle broke trend.