USDCHF - 15 mins Buy
Key Observations:
Falling Wedge:
A clear bullish reversal pattern, the falling wedge, has been identified, indicating possible price breakout to the upside.
Support Zone (Highlighted Grey Box):
Price is currently testing a key support zone around 0.88641, which could serve as a launchpad for an upward move.
Manipulation Area:
There’s a manipulation zone marked within the broader Accumulation Phase, suggesting that smart money might have been positioning for a bullish reversal.
Bullish Target Levels:
Moving Averages:
The interaction of the shorter-term moving averages (gold/yellow) with the longer-term ones (blue/purple) could serve as additional confirmation of trend reversal.
RSI and Volume (if visible):
Potential Buy Scenario:
Entry Point: 0.88708
Consider entering near the current support zone (0.88641), especially if price forms a bullish engulfing candlestick or breaks out of the falling wedge pattern.
Stop Loss:
Place a stop-loss slightly below the support zone, around 0.8603, to minimize risk in case of a false breakout.
Take-Profit Levels:
First Take profit - 0.89168
Second take profit - 0.89567
Wait for a break above the falling wedge resistance or a retest of the breakout level for added confirmation.
Falling Wedge:
A clear bullish reversal pattern, the falling wedge, has been identified, indicating possible price breakout to the upside.
Support Zone (Highlighted Grey Box):
Price is currently testing a key support zone around 0.88641, which could serve as a launchpad for an upward move.
Manipulation Area:
There’s a manipulation zone marked within the broader Accumulation Phase, suggesting that smart money might have been positioning for a bullish reversal.
Bullish Target Levels:
Moving Averages:
The interaction of the shorter-term moving averages (gold/yellow) with the longer-term ones (blue/purple) could serve as additional confirmation of trend reversal.
RSI and Volume (if visible):
Potential Buy Scenario:
Entry Point: 0.88708
Consider entering near the current support zone (0.88641), especially if price forms a bullish engulfing candlestick or breaks out of the falling wedge pattern.
Stop Loss:
Place a stop-loss slightly below the support zone, around 0.8603, to minimize risk in case of a false breakout.
Take-Profit Levels:
First Take profit - 0.89168
Second take profit - 0.89567
Wait for a break above the falling wedge resistance or a retest of the breakout level for added confirmation.
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