The chart I have presented you is 1H. But, If you will look on the Daily Chart, there is a Bullish Convergence between the high in July and the high in August.
The high in July was created by an impulse of 3 waves, a strong bullish sign, and the subsequent drop was rapid and currently consists of 2 waves.
The drop may not be over yet, but at the 50% retrace, its a good place to start.
Start looking for longs on USDCHF. I would like to see some bullish movement, and new highs on 1H chart created before I start buying dips.
This plan is valid as long as the low at .943 holds. Target is the 0.985- 0.99 zone.
The high in July was created by an impulse of 3 waves, a strong bullish sign, and the subsequent drop was rapid and currently consists of 2 waves.
The drop may not be over yet, but at the 50% retrace, its a good place to start.
Start looking for longs on USDCHF. I would like to see some bullish movement, and new highs on 1H chart created before I start buying dips.
This plan is valid as long as the low at .943 holds. Target is the 0.985- 0.99 zone.