USDCHF: Multiple Rejections, Strong Bullish Leg Expected
Price has recently rejected support on multiple occasions, and a double bottom pattern appears to be emerging on the daily (D) timeframe. Additionally, multiple rejections on the 4-hour (4H) timeframe further strengthen our bullish bias. I expect the price to continue in a strong upward trajectory.
**Rationale:**
~ Breakout of Descending Channel (D)
~ Retest of Support (D)
~ Break of Uptrend line (D)
~ Double Bottom Pattern (D)
~ Retest of Support (4H)
~ Rejection Candlesticks (4H)
**Disclaimer:**
My trading ideas are market predictions and therefore should be viewed as such. As an intraday trader (scalper), I use my observations to identify potential trade opportunities on the higher time frames. I then aim to pinpoint key entry points on the lower time frames. Entries should always be verified by additional confirmations.
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#scalping
#intraday
**Rationale:**
~ Breakout of Descending Channel (D)
~ Retest of Support (D)
~ Break of Uptrend line (D)
~ Double Bottom Pattern (D)
~ Retest of Support (4H)
~ Rejection Candlesticks (4H)
**Disclaimer:**
My trading ideas are market predictions and therefore should be viewed as such. As an intraday trader (scalper), I use my observations to identify potential trade opportunities on the higher time frames. I then aim to pinpoint key entry points on the lower time frames. Entries should always be verified by additional confirmations.
---
#scalping
#intraday
Disclaimer
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