See a bearish few weeks ahead, I would say now is a good entry point.
New downward channel created, LHs and LLs.
This is just an idea and not a signal, if following please use good risk management.
Been a while since I posted, clear pullback on the daily candle giving us a large rejection from support, then another bullish candle. possible 50%, 61.8% retrace before coming back and testing support again towards the end of the week.
Rejection from resistance, coming weeks we should be seeing a pullback to the 61.8 fib level before going long and restesting previous highs in the coming weeks.
As we can clearly see FX:EURCHF has retested resistance and rejected on the 4 hr. Looking at the weekly chart depending on how the candle closes out we could see a bullish week ahead. As shown current weekly time frame shows a clear tweezer bottom candle formation.
Also hit 61.8% fib retracement on the monthly.
Possible pullback to 1.1205 wait for...
