GBPCHF | Short D1 | Market Exec | Incoming Risk-Off

Technical Confluences for Trade:
- Stochastics are in Overbought Conditions on D1 and H1 time-frames
- Stochastics are also Overbought in multiple Cross-CHF pairs and even on USDCHF pair.
- Price action is close to a Supply Zone
- Price action is close to multiple Resistance Trendlines & top of Parallel Channel as well
- Targeting the 38% Fibo retracement for this trade

Fundamental Confluences for Trade:
- There seems to be some disconnect between asset classes and with everyone already so 'risk-on', the risk-off build up momentum is ripe for the taking.

Suggested Trade:
Entry @ Area of Interest 1.1570 - 1.1650
SL @ 1.1718
TP 1 @ 1.1425 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 1.1276
Risk-to-Reward @ Approx. 2.60 (Depending on Entry Level)

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Comment:

TP 1 achieved. Take profit on half the position and move SL to Break-even levels.

Enjoy the remaining trade at a risk-free mode. :D

Trade closed: target reached:

TP 2 achieved.

Looking forward to the next trade. :D