EURCHF is trading inside a Channel Down since January and recently priced the latest Lower High. We approach Support (1) which is a level that has held since July 27th.
Trading Plan: 1. Buy as long as a (1d) candle doesn't close under Support (1). 2. Sell if it closes under it.
Targets: 1. 0.96500 (top of Channel Down). 2. 0.93800 (-3.30% decline from the top, as all the bearish legs of the Channel Down have done so far).
Tips: 1. The MACD (1d) is under a Sell Cross. This favors the bearish trend, this is why the stop loss conditions should be so strict (candle closing under Support 1).