USDCHF Technical Overview and Trade Opportunity
Our USDCHF long setup which has been published yesterday was executed and trade reached the first target.
The pair rejects 1.01200 resistance. A Head and Shoulders pattern in being printed on the H4 chart. Breakout of the neckline 1.00850 will trigger the pattern.
Warning and Things to Pay Attention:
1. Pay attention to Time Frame, Trade Period and Estimated Completion Time, Accuracy and Recommended Lot Size clauses mentioned below.
2. This setup would be invalidated if the price breaks 1.0118 resistance.
Trade Reason: Head and Shoulders Pattern
Time Frame: H4
Trade Period: Intraday / Medium Term
Estimated completion time: 2-12 H4 Candle Stick
The trend in the Timeframe: Bullish
The trend in the Daily Chart: Bullish
The accuracy of the pattern: 73 %
Recommended Lot Size: 0.05 at 10K
Stop Loss: 1.01200
Target 1: 1.00700 – 1.0050 / Reached
Target 2: 1.0035 – 1.0001
Ultimate Target: ——–
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
USDCHF: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility