EDUCATION - USDCHF - BREAKOUT AND RETEST
After a month of bullish momentum, price is now failing to to make lower highs. Price has also made a false breakout pattern at 0.99470 and is now continuing downward. Since we are now in a bearish market ( at least for now ) we should now be looking for price to break and retest a structure.
In this illustration you can clearly see price had been ranging for 4 days before breaking through to the downside, coming back up to retest the structure and failing to close above the 0.99080 level.
In this illustration you can clearly see price had been ranging for 4 days before breaking through to the downside, coming back up to retest the structure and failing to close above the 0.99080 level.
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.