USDCHF 30min Analysis February 4th, 2021
Price is in a strong bullish trend but is a bit over extended and at a key point of structure on the daily timeframe.
Trade Scenario 1: Bullish - For us to go long we want to see price retrace back to our key weekly level of .9000. We will wait for price to consolidate and find support, then look to enter off strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we want to see push below our key weekly level of .9000 with conviction. We will then wait for a retrace and for .9000 to flip as resistance.
Trade Scenario 1: Bullish - For us to go long we want to see price retrace back to our key weekly level of .9000. We will wait for price to consolidate and find support, then look to enter off strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we want to see push below our key weekly level of .9000 with conviction. We will then wait for a retrace and for .9000 to flip as resistance.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.