GBPCHF Short trade setup
GBPCHF Potential Short position here.
-Bearish trend since the start of 2016
-ABCD extension in play
-Watching for rejection around the 0.5/0.618 retracement area (DAILY)
-Breakout of the triangle and currently retesting area
-Daily significant support which is now resistance (the purple boxes)
-I'm waiting for a breach of the trend line and minor support (purple box just below price)
-Break and close below 1.2426 and we will short
-Be patient DO NOT jump the gun here.
-It also has the potential to break to the upside.
Trade safe and have a great week!!!
-Bearish trend since the start of 2016
-ABCD extension in play
-Watching for rejection around the 0.5/0.618 retracement area (DAILY)
-Breakout of the triangle and currently retesting area
-Daily significant support which is now resistance (the purple boxes)
-I'm waiting for a breach of the trend line and minor support (purple box just below price)
-Break and close below 1.2426 and we will short
-Be patient DO NOT jump the gun here.
-It also has the potential to break to the upside.
Trade safe and have a great week!!!
Note
Daily viewpoint....Significant support now resistanceNote
Order cancelled
Trade cancelled as we didn't see the price which I wanted to enter at. On to the next one
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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.
Related publications
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.