Trend following idea GBP/CHF
Updated
Confluences
1.Trend is downtrend.
2.Price started create lower low structure.
3.nice red candle breakout support.
4.price breakout resistance and reverse down.
5.Price is respecting resistance 20Ma in 4 hour time frame.and MA is pointing down.if you miss the entry dont chase the price, wait for price pull back to the MA,Wait for a red candle or hammer entry your short position.and SL will be above the Swing High.
Entry 1.10150 (Break thru support)
Stop Loss 1.10850 (Above previous swing high)
Exit plan 1.08500 (Previous swing low area)
1.Trend is downtrend.
2.Price started create lower low structure.
3.nice red candle breakout support.
4.price breakout resistance and reverse down.
5.Price is respecting resistance 20Ma in 4 hour time frame.and MA is pointing down.if you miss the entry dont chase the price, wait for price pull back to the MA,Wait for a red candle or hammer entry your short position.and SL will be above the Swing High.
Entry 1.10150 (Break thru support)
Stop Loss 1.10850 (Above previous swing high)
Exit plan 1.08500 (Previous swing low area)
Note
sl hittedNote
Sell again with 2% risk ,1hr uptrend trendline brokenTrade closed: stop reached
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