USDCHF [Weekly Swing]
After a massive drop, we're seeing sign of retracement on USDCHF. On the Monthly time frame, the picture is showing buyers in control following up with a bullish engulfing pattern. It is significant because market is still playing within that pattern.
Displaying in the Weekly time frame:
- Clean Break Of Structure indicated
- Slight test of the monthly order block showed by the first arrow
- Break Another Structure point (Blue Font) to emphasize buying volume
- Market find resistance near 0.9350 then create Liquidity which will probably be broken in the future
For the Entry:
- Find the last sell candle as market should revisit
I could go into detail on what I look for before I enter. It'll be too boring. To conclude, I'm looking to BUY around 0.90500.
Displaying in the Weekly time frame:
- Clean Break Of Structure indicated
- Slight test of the monthly order block showed by the first arrow
- Break Another Structure point (Blue Font) to emphasize buying volume
- Market find resistance near 0.9350 then create Liquidity which will probably be broken in the future
For the Entry:
- Find the last sell candle as market should revisit
I could go into detail on what I look for before I enter. It'll be too boring. To conclude, I'm looking to BUY around 0.90500.
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.