GBPCHF - within symmetrical triangle - sell on 1H
Market price moves within symmetrical triangle since middle of October and is near strong resistance area (drawn as sell area in the chart)
We will wait for a double top sell entry to trade the last down wave within this triangle.
-50 day moving average crossed 100 & 200 days which implements more up movement in short term + the 20 day moving average doesn't stopped up movement which indicates further price up movement as well
-Bollinger bands still in up movement which indicates another up movement as well
-RSI baseline is near up trend support line and need to close above it for further price up movement
In case of a fast break above the stop loss line this idea is invalid because this would be a strong buy signal.
We will wait for a double top sell entry to trade the last down wave within this triangle.
-50 day moving average crossed 100 & 200 days which implements more up movement in short term + the 20 day moving average doesn't stopped up movement which indicates further price up movement as well
-Bollinger bands still in up movement which indicates another up movement as well
-RSI baseline is near up trend support line and need to close above it for further price up movement
In case of a fast break above the stop loss line this idea is invalid because this would be a strong buy signal.
Trade active:
short active after close under trend line
Comment:
move stop loss to entry
Trade closed: target reached:
trailing stop reached after breakout from resistance at 1,2765 - 30 pips ROI
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
