GBPCHF - Right at the PRZ! Be Patient.

Hey guys, keep an eye on GBPCHF.

Price has fully tested the PRZ betwen 1.2592 to 1.2605

Pattern Identification

Bearish Bat completes at 1.2605.

Trade Execution

Price has bounced away from the PRZ on the H4 chart.

However, I note that the RSI OB zone has not been tested.

I will be patient and wait for a final retest of the RSI before executing my shorts.

It might spill over a little higher than 1.2605 and that is perfectly normal.

If price just falls from current level, I will miss this trade.

EP: 1.2605
SL: 1.2690 (85)
TP1: 1.2460 (165)
TP2: 1.2370 (235)

Commentaire:

I waited for the price to hit RSI OB before executing my short.

Entered at 1.2615, got stopped out at 1.2690.

Followed all my rules, probably the only thing I should monitor in the future is that price should leave PRZ before I enter my trades.