(Click on the Daily Chart to enlarge it)
Today November 24th we have a classic Diamond Bottom formed for CHF at a quite significant bottom (low since July 2008). As this pattern has a very low failure rate (13%), it pays off to pay close attention to it as an important reversal pattern...
The ideal trigger is to wait for prices to break out this Diamond. In other words, to wait for prices to break its last Bearish Trendline, which is around 1.0195 today.
If this pattern really works and we manage to ride a Long position, wait for a possible pullback (43% is the probability of a pullback) to the broken bearish trendline as support to add lots.
Target for this pattern is the 1.0450 (Oct 01st High).
