I’ve been waiting a few days for this market condition to happen, the GBPCHF finally broke the short term range for the downside, meaning that short opportunities are in play until the GBPCHF reaches the next long term support level. Please take a look at the next chart:
Now that the market broke the short term range, I will be looking for short opportunities.
My trading plan:
As long as the GBPCHF keeps trading below 1.7384 I will be looking for short trading opportunities. My TP level will be place just above the next long term support level around 1.7205
All long trading opportunities will be ignored.