LOOKING FOR LONGS ON USD/CHFUSD/CHF 1H - This pair is very similar in the sense that we want to see strength in the USD this week and next. I want to see price break structure to the upside here.
As you can see price has traded down and into the Demand Zone I have marked out for you below, by price trading into this we are expecting and influx of Demand and for the Supply to be offloaded, giving us a flip in the balance.
Once we have a break in the last protected high within the bearish structure we will have confirmation of a turn around in price and that is when we can look for those long opportunities. I will be waiting patiently for a pullback.
A pullback allows us to get involved in this market with a more refined entry, as price is pulling back initially to set a higher low before it goes on to print new bullish structure.
So by us getting involved in that pullback we are essentially getting involved just before the next higher timeframe impulse that should see price trade above the last higher timeframe high.
