Evening Traders,
Today’s analysis – USDCHF – trading above its Local S/R where a deviation bullish is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support
- Swing High Objective
- Oscillators Extended
USDCHF’s immediate price action is trading above is respective its Local S/R that has technical confluence with the .50 Fibonacci – allowing for a long bias.
The current objective is the Swing High, exceeding this level increases the probability of a trend continuation.
Both oscillators are currently extended; a reversion to their means is highly imminent.
Overall, in my opinion, USDCHF is a valid long with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps, thank you for following my work
And remember,
“Trading doesn't just reveal your character, it also builds it if you stay in the game long enough.”
― Yvan Byeajee
Today’s analysis – USDCHF – trading above its Local S/R where a deviation bullish is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support
- Swing High Objective
- Oscillators Extended
USDCHF’s immediate price action is trading above is respective its Local S/R that has technical confluence with the .50 Fibonacci – allowing for a long bias.
The current objective is the Swing High, exceeding this level increases the probability of a trend continuation.
Both oscillators are currently extended; a reversion to their means is highly imminent.
Overall, in my opinion, USDCHF is a valid long with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps, thank you for following my work
And remember,
“Trading doesn't just reveal your character, it also builds it if you stay in the game long enough.”
― Yvan Byeajee
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Unlock Blofin Bonuses
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— Team The Alchemist ⚔️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.