Is it time to short GBPCHF? Let's see
Updated
Hey guys,
we were waiting for a nice selling signal on this pair, and maybe this is happening. Price has reached another key level of daily structure and the RSI is in divergence on the daily as well as overbought on this timeframe. Moreover you can see price action has given the first signal of rejection with a pinbar (long wick to the top) that could be additionally confirmed by the current candle that could be engulfing. Stops above 1,31.
First target with at least 1:1 RR, second to be determined.
It all depends on the current candle close.
I'll keep you updated.
If you want to ask questions or share your view, feel free to comment below.
Otherwise, see you in the next chart!
we were waiting for a nice selling signal on this pair, and maybe this is happening. Price has reached another key level of daily structure and the RSI is in divergence on the daily as well as overbought on this timeframe. Moreover you can see price action has given the first signal of rejection with a pinbar (long wick to the top) that could be additionally confirmed by the current candle that could be engulfing. Stops above 1,31.
First target with at least 1:1 RR, second to be determined.
It all depends on the current candle close.
I'll keep you updated.
If you want to ask questions or share your view, feel free to comment below.
Otherwise, see you in the next chart!
Trade active
Trade closed: target reached
First target hit! Stops to breakeven.Trade closed: target reached
Out the second position
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