A bullish signal may be present at the USDCHF, after a long and strong downtrend. That signal is a Double Bottom pattern. This pattern consists of two touches of the same support level, that indicate that buyers are strong and will push prices higher. It is a reliable pattern with 73% success rate.
However, this particular pattern is present after a strong downtrend, so we will take a Long trade only after neckline is broken and a pullback occurs. Target for the trade is 50 pips.
Analysis:
http://www.chartsecret.com/content/usdchf-double-bottom
However, this particular pattern is present after a strong downtrend, so we will take a Long trade only after neckline is broken and a pullback occurs. Target for the trade is 50 pips.
Analysis:
http://www.chartsecret.com/content/usdchf-double-bottom
