So finally USDCHF is out of descending channel and getting ready for a correction and possibly a reversal. For now we don't go for the uptrend and just want to take advantage of a long-waited correction wave.
We can see a R/S zone around 0.9660-0.9680 through which price just penetrated and closed above. A pullback is expected before any other up move. If the market provides us with perfect "Entry Price" we can hop-on and go for the next move. The tricky point in every that most traders tend to forget is an advantageous "ENTRY POINT". If you take the train in the right station it would certainly keep your risk at minimum.
keep in mind that there is no guarantee that market behaves same as our speculation! So definitely set your STOP LOSS. Also base on recent news on CHF manipulation by SNB, some unexpected moves in CHF is probable.
We can see a R/S zone around 0.9660-0.9680 through which price just penetrated and closed above. A pullback is expected before any other up move. If the market provides us with perfect "Entry Price" we can hop-on and go for the next move. The tricky point in every that most traders tend to forget is an advantageous "ENTRY POINT". If you take the train in the right station it would certainly keep your risk at minimum.
keep in mind that there is no guarantee that market behaves same as our speculation! So definitely set your STOP LOSS. Also base on recent news on CHF manipulation by SNB, some unexpected moves in CHF is probable.
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