I noticed a double top and a potential M-Top formation at resisTNCE ON gbp/chf this morning.
The neckline of the M-Top has just broken and we have other BEARISH signals.
The under used and under appreciated Andean Oscillator has seen the red SELL line move awau from zero indicating the possible entry of BEARS into this market.
We now need to see now is the green BUY line of the Andean Oscillator read less than the signal line (currently the green sell is higher than the signal line) so this trade is a touch premature as we do not have that confirmation but the RSI on H1 was reading 78 an hour ago and is now reading 69 so its dropping from overbought levels.
The MACD has yet to catch up with the price so we do not have a SELL confirmation on MACD which would preferrable.
The double top is the key selling point (as it were) for this trade so I'm in a bit early with this trade but it will result in more pips if it works out.
STOP is above the high at 1.1269 but I'll be closing this trade early if there are signs that GBP/CHF BULLS are not finished with this market.
The neckline of the M-Top has just broken and we have other BEARISH signals.
The under used and under appreciated Andean Oscillator has seen the red SELL line move awau from zero indicating the possible entry of BEARS into this market.
We now need to see now is the green BUY line of the Andean Oscillator read less than the signal line (currently the green sell is higher than the signal line) so this trade is a touch premature as we do not have that confirmation but the RSI on H1 was reading 78 an hour ago and is now reading 69 so its dropping from overbought levels.
The MACD has yet to catch up with the price so we do not have a SELL confirmation on MACD which would preferrable.
The double top is the key selling point (as it were) for this trade so I'm in a bit early with this trade but it will result in more pips if it works out.
STOP is above the high at 1.1269 but I'll be closing this trade early if there are signs that GBP/CHF BULLS are not finished with this market.