USDCHF Long Position

This is a very nice,longer term position that I took on August 27th.

A classic tight range where the over and under pattern was once again present.

A 4H low established @ 0.9175, on August 8, provided a nice support level. The level was once again tested on the 20th leaving a strong demand area right below it. Than, again, on the 27th, the level was visited once more. This time a long position was established @ the 0.9177 area with stops below 0.9145.

This is was a text book over and under pattern trade with really tight stops.

The pair was facing some exhaustion to the downside as suggested by the 4H MACD bull divergence pointing towards the 0.9533 level.

Therefore a bullish correction was due thus making this trade a no brainer.

Position currently secured by trailing stops with good floating profit.

Levels for the trade:

SL: 0.9143
Long @: 0.9177
TP @:0.9533

Over & Under Pattern. Target already within reach.