tommyjones91
Short

EURCHF NEARING IMPORTANT LEVEL LIKELY SHORT.

FX:EURCHF   Euro / Swiss Franc
EURCHF             HAS BEEN FOLLOWING A DESCENDING TREND LINE SINCE THE 6TH             OF APRIL WHICH IS NOW COMING TO A HEAD, SUPPORT HAS BEEN FOUND AT 1.0233 WITH MULTIPLE DOJI'S FORMING SHOWING GREAT INDECISION. IT COMES AS WE REACH THE 50% LEVEL OF THE JAN 15TH (SNB BOMBSHELL) TO 20TH FEB RECOVERY ATTEMPT. i WOULD EXPECT A BREAK BELOW TO HAPPEN AND AN OPPORTUNITY FOR A SHORT.
BUT WE WAIT FOR PRICE ACTION AND CONFIRMATION.
Exactely oposite happen. This level was used as a support for a fast bounce and impulsive move higher.
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tommyjones91 DanTheTraders
Yeah, exactly why we wait for confirmation, I actually entered a long after the descending trend line was decisively broken.
Happy Trading.
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