#USDCHF

As mentioned earlier, I truly believe I was able to catch the bottom of the swiss.  The pair is becoming compressed by a wedge like formation observed on daily/h4. Last Friday, price made a move towards the lower trend line of this bullish pattern. Sunday night (here in Brazil), prices opened with a gap and a few short term bullish divergences. Therefore I just placed a LONG order on the lower end of the gap and waited for the move.

Today, a strong resisting trend line observed on the m30/hourly chart resisted an upward move, thus forming another compression. This TL will most likely be taken out with a 4th approach tomorrow.

On higher time frames we can observe multiple MACD/RSI bullish divergences (white dotted lines). First must reach level would be around the 0.8453 level.  Than 0.8547 & 0.85966 respectively. Once the upper trend line of the wedge is taken out, first must reach target will be @ 0.9013.

M5 shows the gap as well as the compression. The red TL will most likely be taken out tomorrow.

The hourly and 240 charts demonstrate the wedge, the TL and the multiple divergences (white dotted).

The daily chart demonstrating the wedge and the divergence.