GBPCHF has been on a strong uptrend with no significant retracements. Furthermore, this pair has recently experienced some rejection of the upper resistance line and appears to be struggling to move upwards.
I have placed my short in the following location. First target is as indicated. Large volume coinciding with the pinbar candle indicates a possible reversion near this level.
I have placed my short in the following location. First target is as indicated. Large volume coinciding with the pinbar candle indicates a possible reversion near this level.
Comment:
Price decided to break out higher. I'm adding a second position near the top of the resistance area.