The October 27th candle closed as a textbook Shooting Star showing a clear rejection of the 1.618 fibo level. I am expecting a short-term pullback to the trendline, after which I will be looking for a long position targeting a few pips below the very key technical and psychological resistance level of 1.0000.
Once price reaches this level it will be a very important moment for USDCHF. Either we will see a strong rejection of this level as we have seen in the past, or we will see a breakthrough which then put the 2.618 fibo level in play as a potential target.
I will update this idea with a precise entry once the opportunity presents itself!
Once price reaches this level it will be a very important moment for USDCHF. Either we will see a strong rejection of this level as we have seen in the past, or we will see a breakthrough which then put the 2.618 fibo level in play as a potential target.
I will update this idea with a precise entry once the opportunity presents itself!
