FX:USDCHF   U.S. Dollar / Swiss Franc
27 4 1
Looking for USD to reverse
Trade closed manually
iamnev Niverto
@Niverto, good entry and i am looking at these setups for possible reversals after my signal as they effect my risk to reward.
On the time frame you posted why was the origin of the horizontal ( yellow circle) more interesting to you than the other long tails to the left of the circle.
Ultimately price has come down and tested your level 6 times on a m15 so its a very good level.
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Niverto iamnev
@iamnev, Hi, the reason why this level has taken my attention (rather than the others) is how the price came down with massive sell off. Look the bearish move right before my level (black line) being stopped with rejections and a rapid move to the opposite side showing me that this level is strong enough to not let the market going down further. In this case I can predict that the market will retest the level nefore going to its initial move (up move). :)
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iamnev Niverto
@Niverto, so black line origin in yellow circle is a level to the pip to take notice of. The retest and drop base rally to the left of the green bar, they take out the stops and is where you then look for more demand should price come back down to test.
Do you trade blind or wait for some sort of PA at this level, ie. do you set a buy limit pending there ?
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