Price broke yesterday the trend line and currently is rejecting it with the possibility to create a double bottom.
If and only if we get a bullish candle (bullish engulfing or key reversal etc) then we hope in the trade.
I will update in 2 hours when the candle will be formed.
Price rejected 0.382 first (left shoulder) then 0.50 (head) now price is ranging again in 0.382.
If we see a bullish candle filling the previous candle shadow then its a valid setup for an inverted head and shoulder pattern.
Stop below head. Target at supply area above.
Head and shoulders pattern on the daily chart with double bottom on the right shoulder.
Trade triggers with pending order (sell stop) at (112.05).
Stop loss 20 pips above yesterday's closing price (112.465).
If it doesn't reach the entry price the order is cancelled.
A low risk opportunity to go long on USD/CHF. Price bounced back three time on 0.96 zone. Stop loss below 0.95940 and take profit at previous highs (0.96950).
Last idea unfortunately didn't work out.
We have a bat pattern and we have an obvious divergence on MACD. Trend changed on the 60min chart. I will give it a shoot with this trade.
Good luck to all.
4H time frame. A possible bat pattern and divergence on stochastic. If the 4H candle is a bullish engulfing candle then watch pullback for short opportunity.
