USD/CHF - Buying the Retracement
Updated
USD/CHF is in an overall bullish trend, a healthy retracement is taking place now into the .62, .705 and .79 fib levels. Look for buys now down to .99072, 200MA and STOCH oversold for confluence. Stop at .98912. Limit from 1.00382 to 1.00533. However if trade becomes active we will watch how price reacts to the resistance zone of 0.99711.
Timeframe: 6H
Supports - (1) 0.99310 and (2) 0.99072
Resistance - (1) 0.99711 and (2) 1.00533
Happy Trading
Timeframe: 6H
Supports - (1) 0.99310 and (2) 0.99072
Resistance - (1) 0.99711 and (2) 1.00533
Happy Trading
Trade active
First order hit at 0.99310.Note
I do not like PA coming back into these previous resistances. I am closing half position here and moving stop to break even for rest of position.
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.