Hi guys,
this is a real time trade here. On GBPCHF price has reached a level where often times in the recent past it's found resistance or support. You can see every time it got there, price had some kind of reaction to that level. Now price has come back to it and it's forming RSI divergence while climbing up. The last candles make me think we could be headed lower and that's why i'm shorting at market, with stops above the highs and targets as shown above.
If you want to be more conservative, you can wait for a break of this trendline:
If you have any question/idea, feeel free to share.
Otherwise, see you in the next chart!
this is a real time trade here. On GBPCHF price has reached a level where often times in the recent past it's found resistance or support. You can see every time it got there, price had some kind of reaction to that level. Now price has come back to it and it's forming RSI divergence while climbing up. The last candles make me think we could be headed lower and that's why i'm shorting at market, with stops above the highs and targets as shown above.
If you want to be more conservative, you can wait for a break of this trendline:
If you have any question/idea, feeel free to share.
Otherwise, see you in the next chart!
Trade closed: stop reached