USD/CHF: A Potential Long Trade Setup On The Horizon
A potential double bottom that has formed. To see if this is true we need to wait for a break above the neckline to have a true breakout entry.
There is also a daily divergence with the RSI, which is another confluence factor for the long bias with a nice rejection of this daily support level.
Aggressive traders could enter at the break of the trendline (Falling Wedge Pattern), but this comes at a big risk since there is no higher highs or higher lows formed at present.
For a more secure entry, once price breaks above the neckline, pullback or continuation traders can look for additional entries. However, as usual, it comes with a risk: The trade could push on without you.
Trade safe and remember, this is only an idea and not financial advise. Always remember to use proper risk management.
There is also a daily divergence with the RSI, which is another confluence factor for the long bias with a nice rejection of this daily support level.
Aggressive traders could enter at the break of the trendline (Falling Wedge Pattern), but this comes at a big risk since there is no higher highs or higher lows formed at present.
For a more secure entry, once price breaks above the neckline, pullback or continuation traders can look for additional entries. However, as usual, it comes with a risk: The trade could push on without you.
Trade safe and remember, this is only an idea and not financial advise. Always remember to use proper risk management.
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