USD/CHF Technical Analysis:
USD/CHF has moved in an Uptrend by forming Higher Highs and Higher Lows.
1. Breakout happened at the bottom level of the Uptrend range line.
2. USD/CHF re-tested the breakout level and starts to move down
After the confirmation of downward movement, USD/CHF SELL signal is given.
Education note :
Uptrend = Higher Highs and Higher Lows
Downtrend = Lower Highs and Lower Lows
Why Re-testing the Breakout Level is more important ?
After market Breakout from the ranging movement, As per the breakout strategy, Breakout was confirmed and If market again Re-tested the previous Breakout level and starts to bounce back, then we can expect big and sharp movements from that Breakout level.
This breakout strategy exactly happened in this USD/CHF Sell Trade.
USD/CHF reached the Take Profit Target Successfully.
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Thank you.
Nice analysis indeed. I’m so impressed