[FOREX] [GBPCHF] A DECENT BUY SETUP
On the D1 GBPCHF chart, it is clearly on the uptrend which has strong momentum. We only need to wait till the pullback of downward stop and now, with a strong up bar showed up on D1 (Even it is not close yet, today bar will be likely to have decent up body), it is the signal of bigboy said that, they are welcome everybody onboard to share the profit with them.
You only need to wait for a small pullback on smaller timeframe (Properly H4/H1) to get a better R:R. After that, take a seat and enjoy your trip to 1.244.
You only need to wait for a small pullback on smaller timeframe (Properly H4/H1) to get a better R:R. After that, take a seat and enjoy your trip to 1.244.
Note
Wait for changing the course of action before entryNote
Price go dramatically against our setup, in this case, be patient to wait for change the course of action on H1/H4, normally, when the price exceed the previous low on D1, this setup will automatically cancelledNote
Cancel this setup as the price exceed the lowest point of yesterday D1Note
Price react dramatically up on GBPCHF which helps us to have good position to follow this setup again. Entry at anytimeNote
Move SL to entry as the price seems to have a big down move which goes further than our initial expectation
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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.
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.