USDCHF - Monitoring movement
On the Daily, we see price has tested the Supply Zone a few times. To end last week, we see another rejection off the 0.97867 area.
The 4H looks to have formed a HL, as price has pulled back to the 38.2 PRZ (confirmation #1). We see a Morning Star pattern (confirmation #2) as well off of the 38.2. As of right now I would like to see another BULLISH signal, and perhaps closure above the 0.97196 zone before dropping down a time frame to look for LONG opportunities
Target: 0.97867 (LONG Position) ; 0.96045 (SHORT Position)
In order to consider SHORTs, I would like to see a clean break and re-test of that 38.2 PRZ with strong BEARISH confirmations.
The 4H looks to have formed a HL, as price has pulled back to the 38.2 PRZ (confirmation #1). We see a Morning Star pattern (confirmation #2) as well off of the 38.2. As of right now I would like to see another BULLISH signal, and perhaps closure above the 0.97196 zone before dropping down a time frame to look for LONG opportunities
Target: 0.97867 (LONG Position) ; 0.96045 (SHORT Position)
In order to consider SHORTs, I would like to see a clean break and re-test of that 38.2 PRZ with strong BEARISH confirmations.
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