FX.co ★ Mollice | USD/CHF

USD/CHF D1 Timeframe. The USD/CHF currency pair. The recent downward movement has seen a breakthrough, leading to a corrective phase that suggests potential trading opportunities—entry into the market for a sell trade considered once indicators align in the desired direction. Reliance is placed on the magnetic levels indicator to determine the exit point, with current optimal levels for executing the signal hovering around 0.9030. After achieving set objectives, it's imperative to closely monitor price dynamics post-breach of the magnetic level and decide the subsequent course of action, whether maintaining the position until the next magnetic level or securing accrued profits. The local resistance level of 0.9210 for the next target, I will keep the benchmark at this level for the next target. USD/CHF reach this resistance level, and two possible scenarios can appear. I will prioritise the scenario in which the price breaks through and is fixed above the resistance level, considering the existing northern trend and achieving further upward movement. Upon releasing this plan, we can identify entry points for placing purchases on southern pullbacks when this plan is released. Accordingly, 0.9110 can be the reference point in this case. Al likely form near likely his level, which will determine the future trading direction.

USD/CHF H4 Timeframe. The Swiss Franc, aiming for continued ascent after surpassing a significant order block level. The uppermost order block in the extreme zone of the H4 structure serves as the target, with the nearest order block lying around the 0.9150 zone. This zone might act as a temporary obstacle before further upward movement, although a slight reaction to it may give the impression of a reversal.The ascending wave pattern suggests a continued upward momentum, with the target of the previous wave within reach. Traders should remain attentive to any shifts in market dynamics but can approach the current situation with confidence, considering the alignment of multiple scenarios pointing towards further bullish movement.