USDCHF on a confluence zone ðĶ
USDCHF on the chart shows how after the liquidity grab below the support area the price retest the weekly support with a potential double bottom.
The double bottom pattern is known as a reversal one and it plays better at the end of a downtrend as it this would be the case.
The price has now broken the previous lower high and is testing a crucial confluence area between a daily resistance and a descending trendline.
According to Plancton's strategy IF the market will be able to break above that area we can consider a nice long opportunity.
The double bottom pattern is known as a reversal one and it plays better at the end of a downtrend as it this would be the case.
The price has now broken the previous lower high and is testing a crucial confluence area between a daily resistance and a descending trendline.
According to Plancton's strategy IF the market will be able to break above that area we can consider a nice long opportunity.