A potential Long opportunity in Swiss Franc. The "Swissie" has tended to make a seasonal bottom in May and is currently bouncing of support (demand) on the weekly chart.
The 4H chart then appears to show a potential accumulation schematic. The breakout above the range aligns with our bullish, seasonal bias as mentioned above. We are monitoring to initiate a long position if price pulls back into the range below 1.106. This would be a test of the schematic. If price trades below the Spring at 1.090, the idea is invalidated.
The 4H chart then appears to show a potential accumulation schematic. The breakout above the range aligns with our bullish, seasonal bias as mentioned above. We are monitoring to initiate a long position if price pulls back into the range below 1.106. This would be a test of the schematic. If price trades below the Spring at 1.090, the idea is invalidated.
Yorum:
Price has pulled back into the range as aniticpated and appears to be transitioning bullish. Long position initiated at 1.097, stop loss below 1.09.