selfrighteousgambler
Short

GBPCHF MEDIUM-TERM SHORT SELL. COUNTER-TREND

FX:GBPCHF   British Pound / Swiss Franc
This medium-term trade is good because it happened right at the beginning of the day.
This means that there was a real stack of supply at that price that wasn't filled in.
Prices moving back in that would give an opportunity to sell the Pound against the Swissie again.
The problem with this zone is that it is merely a continuation of the down move beforehand.
So any move from here could be short-lived. This isn't a zone for long-term positions.
However, there is no fresh demand zone below on this timeframe.

EP: ~1.45619
SL: ~1.46019
TP: >1.44762 (at least 40 pips, 2:1)
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