- Bat pattern is about to complete on GBPCHF
- PRZ at good resistance level on daily chart
- RSI is reaching overbought level soon
- R:R at 2.3 (TP1) and 3.8 (TP2)
- Will look for entry on H4 chart
I will update if pattern completes.
Note
Pattern has completed slightly above PRZ.Looking at H4 chart, RSI has hit overbought level and is showing bearish divergence.
Trend is ranging a little, not much GBP and CHF news this week.
I will wait for good price action to enter trade.
Note
Theresa May is currently speaking, GBP is plunging at the moment.I have not taken the trade, there is very high volatility now, might wait for a while till it settles down.
For those who are not watching the live feed, best to avoid the trade if the statement turns hawkish the next minute.
Order cancelled
PRZ not respected, avoiding this trade.
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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.