POTENTIAL BREAK AND RE-TEST TRADE
USD/CHF 1D - As you can see price has broken the structure to the upside and gave us the opportunity to take part in long positions initially, now we are getting another opportunity.
I feel price has performed a break and re-test as price traded us higher breaking the last protected high and its now come back down to test the area of Resistance which is now acting as a level of Support.
It is important that we wait for entry confirmation, as you all know this will come via a fractal break in structure to the upside, this confirms an end to the bearishness trading us into the zone and the start of the next bullish leg.
Once we have confirmation of all of this, we can then begin looking to enter in long on the market, waiting for price to pullback we are allowing ourselves to get involved in this market with a refined entry.
I feel price has performed a break and re-test as price traded us higher breaking the last protected high and its now come back down to test the area of Resistance which is now acting as a level of Support.
It is important that we wait for entry confirmation, as you all know this will come via a fractal break in structure to the upside, this confirms an end to the bearishness trading us into the zone and the start of the next bullish leg.
Once we have confirmation of all of this, we can then begin looking to enter in long on the market, waiting for price to pullback we are allowing ourselves to get involved in this market with a refined entry.
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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.
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.