USDCHF Long - 20/1/2021
Hello,
as you can see above, price was moving below its resistance level and formed the Head and Shoulders pattern. In the last Shoulder you can see that price is slowly pushing into resistance level which is a good sign. It means that buyers are under control and we can see a breakout soon. I would personally wait for a breakout (aggressive) or breakout + retest (conservative) before entering a position.
Then, after breakout I expect price to reach the nearest resistance level.
Also USD news are good for us and DXY (Dollar Index) shows a signs of bullish moves.
Thank you for reading !
as you can see above, price was moving below its resistance level and formed the Head and Shoulders pattern. In the last Shoulder you can see that price is slowly pushing into resistance level which is a good sign. It means that buyers are under control and we can see a breakout soon. I would personally wait for a breakout (aggressive) or breakout + retest (conservative) before entering a position.
Then, after breakout I expect price to reach the nearest resistance level.
Also USD news are good for us and DXY (Dollar Index) shows a signs of bullish moves.
Thank you for reading !
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