Potential Range Play Reversal for the Swissy
Based on the 4H chart, I can see a very nice support-resistance and pivot point here. At the moment, price just tested the 0.943 support level with both RSI(14) and Stochastic(14) is roaming around the oversold territory. 0.943 was also a support level during 28th August session, and hence this may be a potential strong support level as well. Plus, a bullish reversal candle was formed (indicated with blue arrow) and price hasn't make a lower low since then, so at this point, the 0.943 support level still remain intact.
If price can go beyond 0.947 (for aggressive) or beyond 0.95 (for conservative), it will be a good long setup with SL at 0.9315 and TP at the pivot level at 0.96. Personally, I don't think price may roam to the resistance level at 0.975 as the overall market trend is bearish. But we'll see in the coming weeks/days!
If price can go beyond 0.947 (for aggressive) or beyond 0.95 (for conservative), it will be a good long setup with SL at 0.9315 and TP at the pivot level at 0.96. Personally, I don't think price may roam to the resistance level at 0.975 as the overall market trend is bearish. But we'll see in the coming weeks/days!
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First target reached! Lets see if we can reach 0.96 price level. This is where i will close all the order