GBPCHF-rejecting from a strong resistance area
After a stron rally this pair is finding resistance at a key level.
I expect a pullback and the the rally to continue.
Reason:
- strong long term S/R
- trendline resistance
- round level 1.55000
- 0.61 fib extension of last ABC structure
- bearish divergence on stochastics
- RSI trendeline broken
SL and targets on chart
Best regards
*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis and plan before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
I expect a pullback and the the rally to continue.
Reason:
- strong long term S/R
- trendline resistance
- round level 1.55000
- 0.61 fib extension of last ABC structure
- bearish divergence on stochastics
- RSI trendeline broken
SL and targets on chart
Best regards
*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis and plan before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
Commentaire:
first target hit, moving SL to BE
Trade fermée: cible de profit atteinte:
second target hit