USDCHF AB=CD- At point C
From the chart, price is at 78.6 level. There is some structure to the left.
One the one hour chart there is clear divergence.
Scrolling down to the 30 min chart there is a break of the trendline.
A safe entry would be a stop below the structure. For a tighter entry, then one that is a few pips below the lowest low that price painted. Risk difference is 14 pips and 30 pips. Profits would be at the at the next level of structure for TP1 and TP2 at the 1.27 extension. Risk reward (with 30 pips) is 4.5.
One the one hour chart there is clear divergence.
Scrolling down to the 30 min chart there is a break of the trendline.
A safe entry would be a stop below the structure. For a tighter entry, then one that is a few pips below the lowest low that price painted. Risk difference is 14 pips and 30 pips. Profits would be at the at the next level of structure for TP1 and TP2 at the 1.27 extension. Risk reward (with 30 pips) is 4.5.
Watch out for reversal to come.....