Trade77; USDCHF Hourly Trendline 7pm


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

After breaking an important H4 trendline, bulls appeared heavily and pushed the price to reach higher at around 0.9770.
Now according to my rhythmic price action method and an hourly trendline I expect price might start to resume its bullish trend.

Currently an hourly trendline has held the price:

H4 bars have got a rhythm with 20EMA applied to close:

Long Opportunity:

Wait for a bounce off the 20EMA and hourly trendline, price could break 0.9770 resistant level and go further up and reach 0.9900.

Short Opportunity:

Break below the hourly trendline and H4 20EMA could signal a trend reversal and short positions at that point would be good and target would be 0.9600 and then 0.9550 which are Fib retracement levels of last bullish move.

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