GBPCHF Broken Support
In my last analysis, I plotted a support zone for GBPCHF. However, GBPCHF has broken the support zone with a strong impulsive movement. We can now look to short GBPCHF. Bears should wait for a retest of the broken support zone, which coincides with a resistive trendline. From here, bears can go short, with a stop loss above the previous support zone now turned resistance, and the resistive trendline. The first target for bears can be at 1.15650.
Remember to take reactively; do not trade based on predictions. Wait for the market to move and price action to give a good signal.
Be sure to follow me for more ideas and analyses. Leave a comment with your thoughts below, all input is appreciated.
Best of luck traders!
Remember to take reactively; do not trade based on predictions. Wait for the market to move and price action to give a good signal.
Be sure to follow me for more ideas and analyses. Leave a comment with your thoughts below, all input is appreciated.
Best of luck traders!
Trade active
The short position is open and in profits. All those who entered should manage their trades actively. Trail your stop loss based on price action.
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