NZDCHF Test of short term top/resistance
As you can see short term momentum is up but we are hitting a strong long term resistance line which should send this pair back down.
Since we are against the momentum, I always like to put on a trailing stop near the halfway to TP. This locks in the gains and sets us up for the momentum shift once it runs out of steam.
Since we are against the momentum, I always like to put on a trailing stop near the halfway to TP. This locks in the gains and sets us up for the momentum shift once it runs out of steam.