GBPCHF Short

GBPCHF expected to make a retracement back towards the Supply Zone.

A short trade is suggested , which is in line with the HTF Downtrend.

1. Entry Conditions

a. Zone - between the Fibonacci .618 and .786 and up against the 50 EMA.
b. Directional Bias - look for MTF alignment of MACD to the downside.
c. Momentum - check price has moved to the OB zone of RSI and is making a break down below the 70 level.
d. Trigger - selling pressure indicated by bearish candlestick pattern on a LTF.


2. Stop - above the Supply Zone High

3. Target - the Demand Zone below.

RR = 2.