DislikedBro, that maybe a good reversal pattern of the down trend. Be wary because its pairing with yen! Anyway, weekly is considered as long term, so if you manage a trade use daily, there is a possibility to fade it.
Check, USD/CHF (i am looking @ daily chart). Looking for consolidation breakout. Maybe good for another 1.2k pips (target weekly top @ 1.22) . Swiss is devaluing its currency & USD need to be strong for its financing rescue mission. My possible entry maybe @ above thursday high and stop below friday low (only risking 100++ pips).
p/s:...Ignored
tokwanden,
ops...1.22 is not 1.2k pips. its 400++ pips only. sori, my bad . but if its go to 1.32 then .
here are charts. i am talking about.
The line chart is 30 min usdchf chart. easy to see. so not necessary have to be daily or weekly chart. even 5 min is sufficient but it's more likely prone to whipsaw (that's why longer period is more optimal due to bigger range of data for decision making. smaller tf, ppl change their mind more often).
I am bored..