Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
After near 300pips drop just in two days now it’s 4days that USDCHF is correcting the price and is forming a symmetrical triangle:
It seems that a breakout is near to take place but I have to note again my Time Filtering method here:
When there is low volume and price is ranging so do not trust breakouts and in these cases you have to use wider stop losses. This situation usually can be seen late on NY session or in Asian session and in the other hand in the London session or NY session you can trust more in breakouts and use tighter stop losses.
Any breakouts here are valid, to the upside or to the downside. So look carefully for a candle in H1 to close below the beneath bond or close above the upper bond to go short or long respectively.
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Winner’s Edge Trading, as seen on: