Market technicals indicate further sell. Trade at your own risk ...
I took a trade this morning on GBPCHF. I was able to confirm the breakout using the relative strength index. ENJOY!
Due to fundamentals i wont be taking this trade however we can see a rising wedge forming which suggests we could see a temporary move to the downside. We also have bearish RSI and MACD divergence.
Its easy to get carried away and over analyse our charts, but a lot of the time all we need to do is keep it simple; our biggest barrier is our emotions. ALWAYS KEEP THEM IN CHECK x
FX:GBPCHF 4 Hour This image explains everything. 4 Hour breakout levels identified. Waited for a 4 hour candle to close below the blue line. Entered on retest. . Closed .07 @ +20 pips. And left .03 running with a 20 pip trailing stop from breakeven. Also posted the progress of this trade on my Instagram stories. Check it out @ www.instagram.com