USDCHF: Buy Opportunities

The daily timeframe gave us bullish signals and confirmed the upward movement. You can read about the market based on the daily chart in the post from the related ideas.

If we look at the 4H chart, we will see the following picture.
The price reached SMA100, and we got a reversal. RSI confirmed the price reversal. MACD is ready to support a further downward movement. It is logical as the market reached the resistance line. At the same time, we have the daily timeframe with the bullish signals. It means that the market can continue the upward movement, and for this, the price will have to break SMA100 in the 4H chart. The breakout could be used as a signal for buying, I think it is risky.

I would like to have such plan:
- the price breaks the local uptrend line and moves back to 0.96500 support
- we get a confirmed reversal signal
- we open long trades with stop orders below the support and the local swing low
- we place profit targets at SMA100, SMA200 and 1.0000 resistance level.
If the price drops below 0.96500, we will have to search for a new trade opportunity.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.