GBPCHF Potential short
Updated
Hello Traders,
We have a descending trend on GBPCHF on the 15min timeframe. We are expecting price to respect the descending trend line and head to forming a new lower low. We took our entry on the 5min timeframe when we saw price in our 50% to 61.8% fibonacci retracement zone and touching our trend line.
Our trading plan goes as follows;
TP1: Close 50% of position and move SL to Breakeven. Remaining position is 50% and risk free.
TP2: Close 25% of remaining position and move stop loss to TP1. Remaining position is 25% and profit is secured.
TP3: Full take profit is realised.
Good luck and Happy Trading!!
We have a descending trend on GBPCHF on the 15min timeframe. We are expecting price to respect the descending trend line and head to forming a new lower low. We took our entry on the 5min timeframe when we saw price in our 50% to 61.8% fibonacci retracement zone and touching our trend line.
Our trading plan goes as follows;
TP1: Close 50% of position and move SL to Breakeven. Remaining position is 50% and risk free.
TP2: Close 25% of remaining position and move stop loss to TP1. Remaining position is 25% and profit is secured.
TP3: Full take profit is realised.
Good luck and Happy Trading!!
Trade closed: stop reached
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.