GBPCHF short trade
Pre-Analysis:-
- GBPCHF probably trending down and may form the first higher low area.
- There was a sign of weakness on top of that.
- The SOW most probably a no result from effort. As price push high with very high volume but the next 2 bar close low.
Entry:-
- As weakness confirm, then on lower timeframe M15, price broke lower and took out the low of effort bar as shown with arrow on the chart.
- Now for entry wait for no demand or upthrust bar.
- In this case no demand bar appear, sell order could be place below that no demand bar.
- Entry: 1.26560
- Stop: 1.26710
- TP: 1.2600
- Target profit of 3.7R
Post Analysis:-
- Target hit
- Trade drop smoothly as expected.