Distribution pattern with breakdown below key support suggests downside momentum.
Break above our Resistance zone will invalidate our trade setup; good idea to watch out if that happens.
- Breakdown Level: 1.08149 -1.08133
- Entry Strategy: Sell orders at BOS
- Stop Loss: Above Resistance zone
- Target Zones:
- Primary Target: Target 1 (R:R 1:2)
- Secondary Target: Target 2 (R:R 1:3)
- Extension Target: Target 3 (R:R 1:4)
Bearish/Bullish Confirmations:
đź”» Rejection candlestick patterns
đź”» Bearish Reversal patterns
đź”» Impulsive moves in line with setups directional bias
Position Management:
- Exit: Partial profits at targets
- Stop adjustment: Trail stops when target are hit
Break above our Resistance zone will invalidate our trade setup; good idea to watch out if that happens.
- Breakdown Level: 1.08149 -1.08133
- Entry Strategy: Sell orders at BOS
- Stop Loss: Above Resistance zone
- Target Zones:
- Primary Target: Target 1 (R:R 1:2)
- Secondary Target: Target 2 (R:R 1:3)
- Extension Target: Target 3 (R:R 1:4)
Bearish/Bullish Confirmations:
đź”» Rejection candlestick patterns
đź”» Bearish Reversal patterns
đź”» Impulsive moves in line with setups directional bias
Position Management:
- Exit: Partial profits at targets
- Stop adjustment: Trail stops when target are hit
Trade active
GBPCHF setup is playing out: price pushed up for a corrective move as called. Now, we’ve got a clean rejection at our sell zone, with a BEARISH candle close on the H1 chart a good indication of Bearish pressure IMO. If GBPCHF stays locked under RESISTANCE ZONE, the Bearish idea is still intact. For now eyes on our TARGET zones.Trade closed: target reached
Target 1 (R:R 1:2) and 2 (R:R 1:3) has been reached a Trailing stop or Break even would be instrumental if chasing for Target 3
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.