Looking To SELL GBPCHF Above 1.14
Possible SELL setup on this pair as we appproach 1.14 which is a previous low that was taken out by the current downtrend, we also have a Monthly SUPPLY/SELL zone that starts around 1.16 so we could see a quick impulse move up to this area.
What I will be looking for is for my Trend Reversal King indicator to give me a SELL signal on any time frame from the 6hr to the daily chart at or above 1.14 I will be looking to target the 12Hr DEMAND/BUY area between 1.10 -1.09 for first easy target and if there is a break of 1.09 we can target further down towards 1.06.
Stop loss will depend on what price the trigger signal occurs and will be posted alongside the trade update.
Another way to enter this position is wait for a MACD Divergence signal to occur above 1.14 on the higher timeframes.
The 1.10-1.09 area will also provide a good buying opportunity to run back up towards and above the 1.16 level lets see how this plays out
What I will be looking for is for my Trend Reversal King indicator to give me a SELL signal on any time frame from the 6hr to the daily chart at or above 1.14 I will be looking to target the 12Hr DEMAND/BUY area between 1.10 -1.09 for first easy target and if there is a break of 1.09 we can target further down towards 1.06.
Stop loss will depend on what price the trigger signal occurs and will be posted alongside the trade update.
Another way to enter this position is wait for a MACD Divergence signal to occur above 1.14 on the higher timeframes.
The 1.10-1.09 area will also provide a good buying opportunity to run back up towards and above the 1.16 level lets see how this plays out
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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.
Get Your FREE Copy of The Trader's Edge – Mental Strategies for Market Success! -thetradingedge.net/the-traders-edge
Join Telegram group -t.me/+T7V_JSiKKsliMTJl
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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.