TheTrader23
Short

GBP/CHF Short Trade Setup

FX:GBPCHF   British Pound / Swiss Franc
Hey Guys!

Hope everyone's been well. Thought I'd give give a nice easy setup for our British Pound / Swiss Franc .

We are referring to the yellow line that has been drawn. As you can see, we have a nice looking Bear Flag thats been forming on all time frames.
Our strong zones of Support and Resistance are drawn in, this is most definitely a bear flag , so we can kind of see a push down from sellers to our strong support zone , the perfect take profit.

ENTRY:
-There were 2 drawn in possible entries, one at the top of the push (best for risk and reward ratio)
-The push through support - confirmation, and the pullback to that *NEW* resistance would be the best entry as its confirmation.

I tried posting this earlier today, however, was experiencing technical difficulties. Goodluck trading guys.
Like and Follow me for more analysis :)

P.S - I'M A 100% TECHNICAL TRADER. NO FUNDAMENTAL RESEARCH HAS BEEN TAKEN INTO CONSIDERATION, trade carefully.

The Orange lines could be possible price movement if we experience a few double tops or any reversal patterns at support zone .

Take Care.

Comments

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