USD/CHF has been bullish in the daily chart for the last two trading days. The H1 chart shows that the price made a bullish breakout at Friday’s highest high and traded above the level for several candles. The price may have found its resistance. It has been in a bearish correction. If it comes down at the breakout level and produces a bullish reversal candle, the buyers may find an opportunity to go long in the pair.
Chart 1 USD/CHF H1 Chart
The chart shows that the price made a breakout at the level of 0.91600 and traded above the level for three more candles as of writing. Upon finding its resistance, it has produced a bearish inside bar. It has been having a bearish correction. If the level of 0.91570 produces a bullish reversal candle, the buyers may trigger a long entry above the level of 0.91700.
Trade Summary:
Entry: Buy above 0.91700
Stop Loss: Below 0.91570
Take Profit 1: 0.91975
Take Profit 2: 0.92060
Take Profit 3: 0.92200