My frequency analysis of GBPCHF in the daily time frame indicates a continuation of the bearish trend.
With the current price at 1.1117, I believe there is an opportunity to ride this downward momentum.
To capitalize on the bearish momentum, I suggest entering a sell position with a take profit set at 1.10642. This level aligns with the next key support zone for GBPCHF.
For risk management, a stop loss can be placed at 1.11542 to allow the trade to invalidate on a break back above the recent daily high.
Note: This is just a suggestion, and you should always do your own research before making any trading decisions.
With the current price at 1.1117, I believe there is an opportunity to ride this downward momentum.
To capitalize on the bearish momentum, I suggest entering a sell position with a take profit set at 1.10642. This level aligns with the next key support zone for GBPCHF.
For risk management, a stop loss can be placed at 1.11542 to allow the trade to invalidate on a break back above the recent daily high.
Note: This is just a suggestion, and you should always do your own research before making any trading decisions.
Comment:
So far so good. You can set the Stop Loss at enter point and wait for Take Profit.
Comment:
For those traders set the stop loss at enter point, suggest that enter at rate 1.1125 and set SL and TP as before.