Trade77; USDCHF Ping Pong Zone 7am

Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.

Swissie is in the ping pong zone after bouncing off 78.6% Fibonacci retracement level. This range zone is between 0.9400 and 0.9470 and price went up and down so many times in this rectangle.

You can see the range zone in the four hour chart below:

I like long tails to the downside and below 0.9400 price level. So after a close above 0.9470 level we can go long and this would be a good swing trade with targets at 0.9800 and 1.0000.

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Kindest Regards

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  • Greg

    Is any reason why you considering broke this zone for long setup? what abut short?

  • Anonymous

    That’s good. it’s good to go long around 0.9400 too after a confirmation.
    Thank you as well for your comment.

  • Taurus21esp

    I like this article, actually I am already long on the pair. With a stop loss of 100 pips, the price has to go down at at .93 level before the position is stopped out. Thank you.