USDCHF profit target reached, time to start buying

13 March, 2017

Buy above 1.0071. Stop loss at 1.0039. Take profit at 1.0124.

Reason for the trading strategy (technically):

Price dropped once again perfectly as expected and reached our profit target. We now turn bullish above 1.0071 support (Fibonacci retracement, horizontal support) for a push up to 1.0124 resistance (Fibonacci retracement, horizontal overlap resistance).

RSI (34) sees strong support above the 29% level and also sees bullish divergence vs price which signals a bounce is impending.


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