Breakout of USDCHF to the upside and ride the bullish legUSDCHF Daily, If there is a breakout above the blue box which is the current resistance. We will look for an entry on LTF and go long. USDCHF has been on a bullish impulsive trend since 4th of April this year. It entered on a corrective stage on 16th May 2022. On the week of August 8th, it made a fake out bearish move to take out the SLs of the Sellers in order to pick up their order. This bullish momentum is intact as long as there is no daily close below the trendline.
Uchf
Traders Must See ThisCHFJPY
Setup: Apparently strong bullish move break the structure and currently price is making retracement before continue its uptrend. Can see price already making reversal sign where bullish continuation is coming.
Confluence:
SR Flip
CRS
Caution:
Price can go lower and test BRN zone
Entry:
Buy @ 109.60, SL @ 109.30 (30 pips), TP @ 111 (140 pips)