MaxFaulkner

USDCHF Daily Chart Showing A Few Potential Setups

Long
FX:USDCHF   U.S. Dollar / Swiss Franc
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1
The way I see this panning out is an overall upward move from the pair. I have plotted a few arrows to show the ways I think this move could go. Im expecting either a move upward directly up to the 1.01178 resistance or a couple of jumps up and down in this range that price has fallen into between 0.99850 and 0.99094. I have also plotted the upwards trendline area. This means if price comes into this triangular zone and the rises to the upside a confirmed trendline with 3 plots can be plotted. There is the chance the price could fall out of this zone and continue to the downside however my analysis on EURUSD leads me to believe that USD should be picking up some strength which pushes me towards a move to the upside.
Comment: The buy trade has carried on going through the potential resistance. The candles have so far followed my arrow EXACTLY so we will see how it pans out. Currently +98 pips :)
Trade closed: target reached: Perfect Trade. +210 pips

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