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.
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