Outside Bar and Pin Bar on USD/CHF

Outside Bar and Pin Bar on USD/CHF

In the near future, purchases may prevail on the USD/CHF currency pair. Near the key support level of 0.98500, a number of classic patterns of the Price Action called Outside Bar and Pin Bar methods were formed, which indicate the growth of the USD/CHF quotes. At the moment, the price is testing a round level of 0.99000. We recommend you to pay attention to these patterns.

If the price fixes above 0.99000, it is necessary to consider buying USD/CHF. The closest goal of fixing profits is the "mirror" resistance level of 0.99400. The movement is tending to the offer zone of 1.00100-1.00300. When tracking the position, we recommend using a trailing stop. Confirmations and entry points to the market should be looked for on lower timeframes.

by JustForex, 2017.12.21

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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