GBPCHF: Thinking Outside the Box.
GBPCHF has eventually, with strong bearish momentum breaks down from its months-long bearish Rectangular Formation.
Yesterday’s Hammer, developed right above the dynamic S&R level of 1.2500 is one that generally summons close attention. However, I’m more of the opinion that it is weak, too weak to give a meaningful bullish reversal and it could even become a bull trap by making a faked Spring!
My focus is on the FL1.2500 area.
My Short Plan:
1. I might entertain a small frontrunner to short it with bearish signal if it ever provides a Pullback to the FL1.2600 area;
2. And/Or, a full assault at a confirmed Breakdown with bearish signal below the FL1.2500 area.
Disclaimer: The above is just my trade planning, and “Trade at Your Own Risk”.
Yesterday’s Hammer, developed right above the dynamic S&R level of 1.2500 is one that generally summons close attention. However, I’m more of the opinion that it is weak, too weak to give a meaningful bullish reversal and it could even become a bull trap by making a faked Spring!
My focus is on the FL1.2500 area.
My Short Plan:
1. I might entertain a small frontrunner to short it with bearish signal if it ever provides a Pullback to the FL1.2600 area;
2. And/Or, a full assault at a confirmed Breakdown with bearish signal below the FL1.2500 area.
Disclaimer: The above is just my trade planning, and “Trade at Your Own Risk”.
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.
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.