GBPCHF 8H long-term Short Analysis
Strategy preconditions
By seeing the downward momentum occurred previously on 8H chart, GBPCHF has great potential to push down to Daily target at 1.06370, . In order for the market to continue pushing down, we need downward BOS to confirm that the local trend also starts to reverse to pushing down.
Here are 3 prediction scenarios, all of them have the same concept: Waiting for the downward HTF BOS and pullback before taking Short. Personally I don't believe much on the prediction marked as red line, that's why I demand an extra downward BOS and pullback before Short shown on the chart, because this prediction has not gained as much liquidity as the other two for pushing downward.
Red prediction: SL set at reasonable level depends on the entry area shaped in future, and TP at 1.06370
Green prediction: SL set at 1.13122 and TP at 1.06370
Blue prediction: SL set at 1.13860 and TP at 1.06370
You can take partial profit at TP 1.07432.
Cautions
if the "Caution level" has been reached before our desired downward BOS occurs, abandon this strategy, new analysis needs to be made then.
