USDCHF - Sell the Triangle Break
This trade is looking like it might form over the next several hours. Currently there is a symmetrical triangle that has formed on the H1 chart. Look to sell a breakdown of the supporting trendline of this triangle. This is in line with the related USDCHF Playbook idea I have uploaded from Sunday
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NO TRADE! Triangle broke to the upside. At times this means there is a good buying opportunity.
I believe however that USDCHF is facing some strong resistance near this area and that any bullish movement beyond 1.0000 may end in a bullish trap for the day/week. Keeping an eye on the pair as we head into November. We are specifically looking for a significant push and close into 1.0000 on the D1 or W1 chart to confirm bullish bias.
US fundamental data has been on a positive tear lately, which may contribute to sustained bullish momentum.
I believe however that USDCHF is facing some strong resistance near this area and that any bullish movement beyond 1.0000 may end in a bullish trap for the day/week. Keeping an eye on the pair as we head into November. We are specifically looking for a significant push and close into 1.0000 on the D1 or W1 chart to confirm bullish bias.
US fundamental data has been on a positive tear lately, which may contribute to sustained bullish momentum.
