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Monday, May 23, 2022

USD/CHF broken the bottom, Re-tested, starts to fall down sharply.
1 mins well spent

USD/CHF 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

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 range, As per our breakout strategy, 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 is what happened in this USD/CHF. 

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