GBPCHF: Bearish market condition, short opportunities in play

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:

GBPCHF
GBPCHF

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.

Good luck

Raul Lopez

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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .