USDCHF: First bearish then bullish... (Details on caption)
Updated
Hello traders
By examining the USDCHF daily chart, we can determine that the chart is potentially bullish, but for this upward move, it is necessary to first clean the sell-side liquidity.
So, in my perspective the are two scenarios for price.
The first one is, that the price left the bearish FVG open and moved down from here to collect all the sell-side liquidity taps into the bullish FVG and then start the bullish move. In this scenario, the first target is bearish FVG (0.90692- 0.91109) and the buy side liquidity.
The second scenario is, that the price hits the bearish FVG and then starts the bullish move. In this scenario, the first target is a swing high that forms inside FVG and then buy-side liquidity.
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🔎 DYOR
🗓️03/06/2024
💡Wait for the update!
By examining the USDCHF daily chart, we can determine that the chart is potentially bullish, but for this upward move, it is necessary to first clean the sell-side liquidity.
So, in my perspective the are two scenarios for price.
The first one is, that the price left the bearish FVG open and moved down from here to collect all the sell-side liquidity taps into the bullish FVG and then start the bullish move. In this scenario, the first target is bearish FVG (0.90692- 0.91109) and the buy side liquidity.
The second scenario is, that the price hits the bearish FVG and then starts the bullish move. In this scenario, the first target is a swing high that forms inside FVG and then buy-side liquidity.
💌It is my honor to share your comments with me💌
🔎 DYOR
🗓️03/06/2024
💡Wait for the update!
Note
As we expected the price dropped more than 90 Pips.For now, we should study price in a lower time frame to find a bullish signature.
We always need LTF confirmation.
I hope you have used this TA so far...!
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