GBPCHF SHORT
Updated
M
Bearish, price below Emma's bearish since June, previous M had a huge wick to the downside I expect to fill somewhat fifths position plays out.
W
Three consecutive weeks price has failed to close above 1.1180 area with this current week also rejecting this area. Price is below Ema's and very strong key area around 1.1170.
D
Price is currently sitting on Emma's however I expect with a further move down this will change Ema's have been sideways for sometime.
Daily candle so far rejecting off key area highlighted in grey price did have a higher push earlier through this resistance only to return.
Setup:
4HR bearish engulfing and breakout of trend line/channel
awaiting retest on lower time frames as I want this short from a nice pull back sitiuation on possibly 15min but will await next 15 or 1hr close to see situation.
Perfect entry would look something like last slide which aint guaranteed to happen :)
GBPCHF
Bearish, price below Emma's bearish since June, previous M had a huge wick to the downside I expect to fill somewhat fifths position plays out.
W
Three consecutive weeks price has failed to close above 1.1180 area with this current week also rejecting this area. Price is below Ema's and very strong key area around 1.1170.
D
Price is currently sitting on Emma's however I expect with a further move down this will change Ema's have been sideways for sometime.
Daily candle so far rejecting off key area highlighted in grey price did have a higher push earlier through this resistance only to return.
Setup:
4HR bearish engulfing and breakout of trend line/channel
awaiting retest on lower time frames as I want this short from a nice pull back sitiuation on possibly 15min but will await next 15 or 1hr close to see situation.
Perfect entry would look something like last slide which aint guaranteed to happen :)
GBPCHF Trade active
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