GBPCHF has been in a channel for the past 2 weeks. Long term outlook is downwards movement (see past ideas) but this channel has been holding and may be holding for a bit longer.
Look to sell at the top channel and take profit at bottom of channel. Until we have a breakout of the bottom channel there is no need to stretch your profit targets.
Also note, even though we are in a channel, since the main direction is down I highly advise taking only sell positions. If you do take buy positions at the bottom of the channel, make sure to set short stop losses.
Let me know if you have any questions. Good luck with all your trading!
Charles V
CVFX Management
Trading made Simple
Look to sell at the top channel and take profit at bottom of channel. Until we have a breakout of the bottom channel there is no need to stretch your profit targets.
Also note, even though we are in a channel, since the main direction is down I highly advise taking only sell positions. If you do take buy positions at the bottom of the channel, make sure to set short stop losses.
Let me know if you have any questions. Good luck with all your trading!
Charles V
CVFX Management
Trading made Simple
