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Usdchftrade

Interactive - share your thoughtsFX:USDCHF Ok, so I can see a clear break of the trend line and it is currently being tested from the under side. So this looks like a classic support and resistance setup..... BUT Did you see the massive inverse head and shoulder pattern on the weekly time frame? Did you see the ascending triangle pattern on the Monthly time frame? My opinion would be to trust the higher time frames as there is lesser noise and the analysis is more "trustworthy". So if the higher time frames are showing strong bullish possibilities it means that the H4 setup could prove to possibly fail OR The bullish moves could fail and the bears prevail, price is around a key level after all and anything could happen. I would give it time to see what is indicated through price action before opening a trade... What are your thoughts? Feel free to share.
by Cmasterza
USDCHF - where the bulls just wont give upFX:USDCHF The bulls have been doing exceptionally well on this pair since the latter part of September to the point where the major resistance level has been reached and the inverse head and shoulder pattern has been completed with the exception of breaking the neckline - the current candle is above the neckline signalling the possibility of a bullish continuation however the candle needs to close as such to confirm the same. I will be on H4 and D1 timeframe looking for a good entry to go long or for a sign of price reversal in which case a sell off could take place. On my watch list and more details to follow.
by Cmasterza