Trade77; USDCHF Shy of 0.9560ish 7pm


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

USDCHF is again at the 0.9560 support area and likely to go higher from here.

As you can in the figure above price hardly struggled to break this area before and no success! Now I expect another short uptrend move to 0.9700 area.
Stops would be at 0.9540 and if a candle closed at this price then I highly recommend to go short for another retest of 0.9461, the previous low.

Make sure that you are following me on twitter so you can be informed of any trade calls for this pair and if you found this post useful let your followers to read it too, so please retweet this article with the button above of the article.

Regards

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  • Tonyjackovich

    Made a comment on the other. I’m a P&L’er …Point and Line Methodology and my
    indicator (a 5-9) stopped the hourly at .9579 and right at the moment the market
    is stalling at my 5-9 which is a tangent line. This is the USD/CHF. On the daily the
    close has to be above .9641 to be a candidate for a reversal…and even there it’s
    a time (daily) factor. Right at this moment it’s stalling. It’s sitting on hands time.
    But you’re right…..the ‘support area’….which in the P&L is the Dotted Line….so
    with the P&L system it could develope into a ‘congestion trading’.