USDCHF IT'S FORMING A CONTINUATION PATTERN TO THE DOWNSIDE. WAIT FOR THE PRICE TO HIT THE UPPER TRENDLINE, THEN WATCH STRONG PRICE ACTION IF YOU WANT TO SELL.
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PRICE IS NOT FALLING AGRESIVELY. IF YOU ARE IN, MOVE YOUR SL TO BE. HERE IS A POSSIBLE SCENARIO.
Has it not broke the continuation pattern upwards, seems so... any thoughts?
gopipsgo
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@donzeeshan.dz, simply wait and watch for strong price action for sell. Here is a possible scenario tradingview.com/x/zrIHRsLP/. Just be patience.
donzeeshan.dz
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@gopipsgo, your first scenario seems to be correct, as it has started to fall, I sold at a good point. But yes thank you for the alternative scenario
gopipsgo
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@donzeeshan.dz, ok mate. Thanks for your support.
donzeeshan.dz
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@gopipsgo, any reason why it is reversing upwards after huge fall or just a simple pull back?
gopipsgo
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@donzeeshan.dz, it looks like a correction to one more move down. If you have your trade at a good place put your sl on be.
donzeeshan.dz
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@gopipsgo, where the invalidation point is, is where i took trade, and what do you mean by the impulse being invalidated? so it will continue up and not come back down? Thanks
gopipsgo
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@donzeeshan.dz, where do you take the trade?. What i'm showing you is a possible scenario. It looks corrective, but, all that we have to do is wait and watch price closely. Only price behaviour show us where is going.
donzeeshan.dz
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@gopipsgo, I took the trade at the invalidation point before the big drop but okay i see