GBPCHF Short
GBPCHF expected to make a retracement back towards the Supply Zone.
A short trade is suggested , which is in line with the HTF Downtrend.
1. Entry Conditions
a. Zone - between the Fibonacci .618 and .786 and up against the 50 EMA.
b. Directional Bias - look for MTF alignment of MACD to the downside.
c. Momentum - check price has moved to the OB zone of RSI and is making a break down below the 70 level.
d. Trigger - selling pressure indicated by bearish candlestick pattern on a LTF.
2. Stop - above the Supply Zone High
3. Target - the Demand Zone below.
RR = 2.
A short trade is suggested , which is in line with the HTF Downtrend.
1. Entry Conditions
a. Zone - between the Fibonacci .618 and .786 and up against the 50 EMA.
b. Directional Bias - look for MTF alignment of MACD to the downside.
c. Momentum - check price has moved to the OB zone of RSI and is making a break down below the 70 level.
d. Trigger - selling pressure indicated by bearish candlestick pattern on a LTF.
2. Stop - above the Supply Zone High
3. Target - the Demand Zone below.
RR = 2.
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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.