Saturday, April 17, 2010

USD/CHF: Symmetrical Triangle Still Playing its Role?

(Click on the Daily chart to enlarge it)

Notice a false breakout at the Lower Trendline of this major Symmetrical Triangle just for prices to hit the support zone 1.0508 and form a nice Bullish Engulfing.
My strategy will be to enter LONG at the support zone 1.0580 (if prices actually get there...) or at the break of the following resistances: 1.0620 / 1.0650.