USDCHF Projections week of 8/12

USDCHF

USDCHF is interesting in that it ranges in a very deliberate fashion. The green box represents a roughly 250 PIP range in which price tends to bounce. If you extend it either direction (up or down) the same amount, you have a box that contains somewhere around 99% of price action for the past 4 years. The green box itself seems to have an equilibrium price, and seeing the double bottom it just printed, could be a nice place to place T1s on a long position. Even better, the top of the green box could be an excellent spot for a T2. For the short side, a breakout of the green box could spell profits for those ready to take that chance. Not many obstacles on the way down to the lower side of the before-mentioned larger price box. I'm going to stay on the sidelines until I see some confirmation of which direction price wants to go.