What’s the CHF going to do?

Morning Dynamic Traders

Just like yesterday it seems to be another awesome start to the day, whether wise!!

Yesterday after my update the CHF did begin to drop, but it found some support at a previous resistance line which I have marked on the 4 hour chart below. Price is now climbing back towards the trend line that forms the top line of the channel. This isn’t the first time that price has done this and I have also marked this on the chart below.
The last time price dropped away from the trend line it found support at a previous resistance line, which happens to be at the same point which price failed at the trend line before. It climbed briefly before plummeting pass the support line and straight to the trend line that forms the bottom line of the channel.














It is understandable that price is behaving in this manner, it just means that we have to wait longer for a shorting position, if the shorting opportunity arises, because price can still possibly find the strength to break its where out of the channel.

I think ‘Take That’ said it best, what we need now is “just a little bit of patience”, to see what the CHF does next!

Happy Trading

Richard Monnery