Waiting for a SHORT setup on GBPCHF
I've marked out a forming wedge pattern.
Simply waiting to see what sort of price action forms. I am currently waiting to see if there will become a candle close OUTSIDE of my wedge pattern.
We have a candle reaching highs of 1.29895, which is just under the 1.30000 level. Since then we have seen the market producing HL which suggests it is going to start trending downwards.
NOW, on the DAILY timeframe, you will see consolidation ever since the market almost passed a major level of 1.30000.
It's still quite early to tell what will happen but It's to share my thoughts and what I am looking out for.
Simply waiting to see what sort of price action forms. I am currently waiting to see if there will become a candle close OUTSIDE of my wedge pattern.
We have a candle reaching highs of 1.29895, which is just under the 1.30000 level. Since then we have seen the market producing HL which suggests it is going to start trending downwards.
NOW, on the DAILY timeframe, you will see consolidation ever since the market almost passed a major level of 1.30000.
It's still quite early to tell what will happen but It's to share my thoughts and what I am looking out for.
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