Early entry on trend reversal
Updated
GBPCHF has been on a strong uptrend with no significant retracements. Furthermore, this pair has recently experienced some rejection of the upper resistance line and appears to be struggling to move upwards.
I have placed my short in the following location. First target is as indicated. Large volume coinciding with the pinbar candle indicates a possible reversion near this level.
I have placed my short in the following location. First target is as indicated. Large volume coinciding with the pinbar candle indicates a possible reversion near this level.
Note
Price decided to break out higher. I'm adding a second position near the top of the resistance area.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.