- Waiting for price to complete M formation around either a) the orange zone or b) (more likely) the blue zone
- Looking for price action confirmation around these areas on the 4hr timeframe before entering long
- Price to retest the neckline of the M formation to complete it.
- If momentum is strong and price is able to break above through the neckline and retest it and give us price action confirmation, we could finally see GBPCHF being bullish and move upwards towards the green key target levels.
- Patience is key here - adjust analysis as price plays out (be reactive and not predictive)
- Looking for price action confirmation around these areas on the 4hr timeframe before entering long
- Price to retest the neckline of the M formation to complete it.
- If momentum is strong and price is able to break above through the neckline and retest it and give us price action confirmation, we could finally see GBPCHF being bullish and move upwards towards the green key target levels.
- Patience is key here - adjust analysis as price plays out (be reactive and not predictive)
Trade closed: target reached:
Both long term targets hit! 1234 pips caught with accuracy!
Patience pays off!
Patience pays off!