USDCHF - Daily

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If we look at the daily time frame, we can see that price has formed a pennant. We have 2 possible scenario's, either a break to the upside or a break to the downside. Even though this is considered a bullish pennant, I like to keep an eye out for both possibilities to see which one plays out, if either of them will play out. I would look for a break of the pennant to either side and then wait for a retest at the levels shown in blue. It is at these areas where I would look for entry opportunities on the smaller time frames, such as H4 or H1.