USDCHF - Wyckoff's VSA - 4H Swing Trade
USDCHF has been a quiet pair but looking at the DAILY and WEEKLY Timeframes, it formed an ascending triangle. Prices reached down to 0.91000 and 0.91500 levels before increasing volume - indicating interest - drove price back up. A strong supply zone of the WEEKLY timeframe act as the upper base of the ascending triangle (around 0.94000). Price rallied from 0.92000 heading towards this supply zone expecting a RALLY - BASE - DROP towards the same 0.92000 level.
This level is in confluence with:
1) The ascending triangle
2) Psychological support around a round number (0.92000)
3) Wyckoff's Volume Analysis (demand zone).
This level is in confluence with:
1) The ascending triangle
2) Psychological support around a round number (0.92000)
3) Wyckoff's Volume Analysis (demand zone).
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.