GBPCHF short - are these reasons enough?
Updated
Do you also see what I am seeing?
1. Rejection of price in the 1.120 region.
2. A down trend that retraced about 50% but may now be resuming.
3. A series of lower highs
4. Solid support at 1.1230 now becoming resistance.
5. Price below 20 ema on the daily as well as H4 time frames.
I don't know what you guys think, but I don't need any more reasons to go short. I will be looking for a suitable entry location of a lower time frame.
This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
If you like my idea, please give a “boost” and follow me to get even more.
Please comment and share your thoughts too!!
It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
1. Rejection of price in the 1.120 region.
2. A down trend that retraced about 50% but may now be resuming.
3. A series of lower highs
4. Solid support at 1.1230 now becoming resistance.
5. Price below 20 ema on the daily as well as H4 time frames.
I don't know what you guys think, but I don't need any more reasons to go short. I will be looking for a suitable entry location of a lower time frame.
This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
If you like my idea, please give a “boost” and follow me to get even more.
Please comment and share your thoughts too!!
It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Trade active
Not much happened here in 1 week. However the trend line still holds and PA still looks bearish. Hopefully, patience will deliver rewards in the coming week.Trade active
Patience did give some results, partly because of NFP. 50% of my trade is now closed and stop moved to a small profit. My intention is to trail the stop and see how far I can take this. 
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