USDCHF is moving up between higher timeframe supply and demand zones, far from overbought levels. It is also in a 4hr uptrend which leaves us with a bullish bias.
We are currently moving out of a 4hr demand area which has previously shown big strength, breaking the top on 9/5-2018. Due to the new week, I wanted to wait for a couple of hours for the market to stabilize before trading. I think the market is now fairly stable and so I go long from the current price.
Hopefully we can get a quick upmove for a 1:1 Risk:Reward, as indicated on the chart.
Remember to trade with the probabilities. No single trade determines our performance, we will all have a loser once in a while.
Take care,
TheSupportResistanceTrader
We are currently moving out of a 4hr demand area which has previously shown big strength, breaking the top on 9/5-2018. Due to the new week, I wanted to wait for a couple of hours for the market to stabilize before trading. I think the market is now fairly stable and so I go long from the current price.
Hopefully we can get a quick upmove for a 1:1 Risk:Reward, as indicated on the chart.
Remember to trade with the probabilities. No single trade determines our performance, we will all have a loser once in a while.
Take care,
TheSupportResistanceTrader
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