July 29th $USDCHF – Retest of prior support, now resistance

July 29th $USDCHF - Retest of prior support, now resistance

Today’s Box trade idea is similar to Friday’s set up as it still looks good! Previous support was broken and this Box trade looks to play the fact that may well now be resistance. I have set the Box to open a short trade, with the stop loss on the far side of the Box and the Profit Target being automatically calculated based on the average daily movement range, which for this pair, today, is 46 pips. An entry into the Box and valid close back down below will open the trade.

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