Current price levels suggest that the swissey has roughly a 38.2% chance of completing it's average weekly range to the downside, thus taking out the low of the week and the month. This leaves us with around 61.8% chances of observing an expansion north.
So the break towards the top of the triangle seems the better choice as long as we have some inspiring price action tomorrow (daily trend should be up). If indeed price action permits a a SL to be placed below tomorrows low at a reasonable R:R, than a good trade could be setting up. Will see when time comes.
0.84342 level on the chart represents 50% of this weeks price action. The blue line level, above @ 0.85056 represents the high of the week. The higher peak to the left is the high of the month.
Price inside a triangle formation. We could see a break of the formation as well as a break of the weekly high as well as the monthly high thus far.
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