USD/CHF – 4H – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline down.
A bearish descent downwards to the next support line at 0.87354 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.89574 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Three White Soldiers’ candlestick chart pattern is detected. The candles form ‘Three White Soldiers’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.89574 |
| Current Price | 0.89429 |
| Next Low | 0.87354 |
| 2nd Low | 0.87008 |
| 3rd Low | 0.86147 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three White Soldiers