USD/CHF - Potential Double Bottom Reversal Pattern

3. Juni 2020

Hello Traders!,
It seems that the USD may begin to gain back some strength, lets see how the currency plays out until the end of the week!
What Is The Market Telling Us?

• Price has been consoldiating with a 40 pip range between 0.9608 and 0.9648
  
• Market may be looking for BUY orders with having 2 bearish FAKEOUTS to trigger it
  
• Bulls have been battling the bears to keep price above the 0.9608 support level
  
• Potential double bottom has occured, indicating possible reversal of previous downtrend
  

When Should We Enter?

• We can enter on the next clear bullish candle that appears above right above the support level
  
• This pair is still in a downtrend, so keep your SL tight just incase bearish volatility does come in
  
• RISK MANAGEMENT IS KEY!!

4. Juni 2020

Trade geschlossen: Stop wurde erreicht

Unfortunately we got stopped out in this one
As I stated in my analysis, we kept a tight SL due to this risky counter-trend.