Previous tramline channel has been broken and price is on its way down to next possible tramline channel. The meeting of price and tramline coincides with the last buying zone price. That is why I am going for a BUY.
Short mate it’s broken the channel hit a key resistance down for the next few weeks at the least
nelsyboy
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@LionheartFX, Thanks for the advice. Is that the same short idea as the one you posted on 28th April EUR/USD? There are loads of different ideas on Tradingview.
SeyarAb
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@nelsyboy, Becareful mate, it’s currently short all the way, has broken key trend line and Stochastic for the end of this week is also showing it to be a sell at least until around the 1.1700 area
@LionheartFX, @SeyarAb Thanks both for your help/advice/caution. I was careful on BUY GBP/CHF. I entered at 11900 and came out at 11937. I agree it was against the overall dynamics but I was just following previous BUYERS at that price. Price is now stuck at the entry price so is yet to take off for the BIG SELL.
PeterJJN
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A Lots of liquidity below so definitely sell
nelsyboy
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@PeterJJN, Would you mind explaining what "lots of liquidity" means in this context. Much appreciated.