Posting a little update on the usd/chf chart possible congestion candle the last bullish candle and the trade was triggered at 0.8980 and I had to covered the trade around 0.9000 because of slow tempo.
Still there is lot of room but I would like to remain on sidelines ahead of FMOC statement tomorrow and anything can happen but if Fed tap more then we should see rally in usd bulls.
The idea was right look for momentum to carry forward the last day momentum to atleast test the highs and I expected that but due to lack of volitality, the pair seems to pause at the resistance 0.9010
Take a look at the Updated usd/chf chart
I would like to re-enter again if I am given the opportunity to buy low again, but that could seems unlikely because if an area is built then there is unlikely that price visit the previous area.
But to facilitate or through liquidation break it can happen but chances are very rare. Uncertainty drives the market and if price breaks the recent barrier and take out the highs with momentum, then there is strong chance that the trend resume and test multi month high at 0.9110 area and break of 0.9030 will offer good risk to reward.
