Elite Swing Trader Trade Signals USDCHF – 14th August 2019
USDCHF produced a massive H4 bullish candle yesterday at a key level of support. The price seems to bullish since then. After having a consolidation, another H4 bullish candle was produced. Thus, an H4 breakout, pullback and an H1 bullish engulfing candle are what the buyers waiting for to go long on the pair. Let us have a look at the H4 USDCHF chart.
This is another trade idea generated by the Elite Swing Trader.
The price went up to the level of 0.97670 and started having a consolidation. The level of 0.97430 has been working as a resistance level. The last H4 candle on this chart came out as an H4 bullish engulfing candle. If the current candle makes a breakout at the level of 0.97670, then a pullback at the breakout level followed by an H1 bullish engulfing candle, the buyers may take a long entry to grab some green pips. Let us have a look at the summary of the trade…
- Buy Stop Order: 0.97708
- Stop Loss: 0.97433
- Take Profit: 0.98024
There is a lot of space for the price to travel towards the North. Moreover, the daily and weekly charts show that the price is trending towards the North from a very strong level of support. The potential bullish move might end up being very big and this is the beginning of that trend. Traders may consider taking partial profit at the target area and let some of it run to grab more pips.
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