The situation on the USDCHF market. Operating with data obtained from the Fibonacci grid, the market rate of 0.79901 falls within the range between the Fibonacci levels 100 (0.79909) and 50 (0.79696). To understand and build the Fibonacci grid, it is worth mentioning that 100 (0.79909) corresponds to the Daily high, 0 (0.79482) coincides with the Daily low of the previous day. With this understanding, the assessment result of the market situation based on the Fibonacci grid data favors buyers. This is because the current price of 0.79901 is at the upper part of the daily candle, corresponding to the range between 100 (0.79909) and 50 (0.79696). Breaking below the lower limits of this range would invalidate the bullish structure of my trading plan. At the moment, I plan to buy from levels within three of them: 50 (0.79696), 61.8 (0.79746), 76.4 (0.79808). As for taking profit, I am waiting for the market to reach the Fibonacci levels 123.6 (0.80010) or 138.2 (0.80072). Depending on the market's reaction to these levels, I will close my position at one of them. An impulse above these levels will yield even more profit.
