Hi Traders! We have USDCHF bullish opportunity forming at the moment. A detailed analysis of this buy setup is as follows:
USDCHF D1 Chart:
On the daily chart we have a strong support zone that has formed and the price which was moving lower has currently reached this zone and is holding above it. In addition to this we also have a bullish divergence that has formed which we may consider as an evidence of bullish pressure. We may now look for more evidences of bullish pressure on lower timeframes in order to join the bulls.
USDCHF H4 Chart:
On the H4 chart the price has created a bullish divergence which we may consider as an evidence of bullish pressure. We may now look for bullish setups with more bullish evidences on lower timeframes in order to start looking for the buys.
USDCHF H1 Chart:
On the H1 chart we have a potential bullish hidden divergence that has formed which we may consider as an evidence of bullish pressure. Until the last low shown in the screenshot holds we may look for more bullish evidences in order to join the bulls.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.
Not sure how to spot reversals (bounces)? Not sure how to spot breakouts?
I invite you to join me in my live trading rooms, on daily basis, and improve your trading with us.
Also you can get one of my strategies free of charge. You will find all the details here