GBPCHF Update
Update on GBPCHF:
Price created highs into our supply zone
8/10
Price created a low right below the supply zone around the 1.27500 ana made a return back to our supply zone
8/11
Price came to equal highs from monday and created a wick and began to drop.
From here we would like to see price drop to the 800 level and close below it. The 800 level is also located inside the "Golden Zone" of the Fibonacci retracement tool, which can be used as confluence for our sell.
When inside the supply zone we are entering the market with a "Sells ONLY" mindset. We are looking for our best possible entry within the supply zone to hold this trade back to the demand zone (Which would be the perfect setup).
SL above wicks at previous highs which would be 10~15pips. Our overall target is 180~200 pips.
Refer to previous analysis for more details.
**
Please like and comment below as you see fit. I am trying to build my reputation on tradingview and it would be greatly appreciated if you show love if you received value.
I trade basic supply and demand in combination with price action, quarters theory and psychological levels in the markets. If you have any questions, please let me know.
#WakeUpInProfit
Price created highs into our supply zone
8/10
Price created a low right below the supply zone around the 1.27500 ana made a return back to our supply zone
8/11
Price came to equal highs from monday and created a wick and began to drop.
From here we would like to see price drop to the 800 level and close below it. The 800 level is also located inside the "Golden Zone" of the Fibonacci retracement tool, which can be used as confluence for our sell.
When inside the supply zone we are entering the market with a "Sells ONLY" mindset. We are looking for our best possible entry within the supply zone to hold this trade back to the demand zone (Which would be the perfect setup).
SL above wicks at previous highs which would be 10~15pips. Our overall target is 180~200 pips.
Refer to previous analysis for more details.
**
Please like and comment below as you see fit. I am trying to build my reputation on tradingview and it would be greatly appreciated if you show love if you received value.
I trade basic supply and demand in combination with price action, quarters theory and psychological levels in the markets. If you have any questions, please let me know.
#WakeUpInProfit
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