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Sunday, June 06, 2021

USDCHF Analysis June 6, 2021

USDCHF Analysis June 6, 2021

On the weekly timeframe we are hitting a level of support and showing signs of reversal here. Last week formed a dojo candle which is a reversal signal

snapshot
On the H4 timeframe we can see that price broke the trend line and shifted momentum to the upside. We formed a new HH point and are now retesting a level of liquidity that we may want to buy at. I marked up a trade with multiple confirmations including the Fibonacci retracement , support, and wicks to the downside. We will put our stops below the 120% level on the fibonacci and target the 161.8% fib level

from TradingView Ideas https://ift.tt/3w06By6
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