GBPCHF has ben channeling for 3 weeks now and still holding. Long term direction is still down and I am looking to place a sell near the top channel.
Again, I am only looking at sells as that is the main direction. If you do plan to buy at the bottom of the channel make sure you set short stop losses.
Indicators:
1. RSI on daily and 4 hr in sell zone.
2. Channel holding strong.
3. Overall GBP pairs are weakening.
Entry 1 @ current price of 1.1889
Entry 2 @ 1.1975
TP @ 1.1810
Good luck and let me know if there are any questions.
Charles V
CVFX Management
Trading made Simple
Again, I am only looking at sells as that is the main direction. If you do plan to buy at the bottom of the channel make sure you set short stop losses.
Indicators:
1. RSI on daily and 4 hr in sell zone.
2. Channel holding strong.
3. Overall GBP pairs are weakening.
Entry 1 @ current price of 1.1889
Entry 2 @ 1.1975
TP @ 1.1810
Good luck and let me know if there are any questions.
Charles V
CVFX Management
Trading made Simple
Comment:
Target hit, net 79 pips.
