Upside movements on the horizonHello traders,
GBP/CHF is positioned extremely well.
PA formed a smaller consolidation, followed by a larger continuation.
The key lies in the last leg of the 3th touch, it tapped the lows and made an impulsive move towards the upside, meaning that bigger players stepped out of their shorts and likely pivotting into buy positions. The only negative confluence is the pinbar formation on the weekly. However, PA formed a strong close on the daily at a high value area.
I'm waiting for the first continuation and if it commits, I''ll softly manage this trade, simply because it makes sence to tap at the magnet (an area where previous momentum came from).
I'm also aware of the IP (inflection point). However, it doesn't make sence that PA will sell of from this area. The size of correction leads statistically speaking towars more agressive moves.
