USD/CHF (W and 8H): reasons to look for a long position
Firstly, taking a look at the Weekly timeframe graph, it can be noticed that the price has experienced a dramatic impulsive drop and is currently sitting on a major level of support. We know, that after an impulse, a correction should kick in. And therefore, we are zooming into lower-timeframe charts and looking for extra confirmations (spike below the freshly formed double bottom and liquidity generation) before entering longs and riding them at least until the 50% Fibonacci retracement level drawn from the top of the massive recent impulse.
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