Hey Guys!
Hope everyone's been well. Thought I'd give give a nice easy setup for our British Pound / Swiss Franc.
We are referring to the yellow line that has been drawn. As you can see, we have a nice looking Bear Flag thats been forming on all time frames.
Our strong zones of Support and Resistance are drawn in, this is most definitely a bear flag, so we can kind of see a push down from sellers to our strong support zone, the perfect take profit.
ENTRY:
-There were 2 drawn in possible entries, one at the top of the push (best for risk and reward ratio)
-The push through support - confirmation, and the pullback to that *NEW* resistance would be the best entry as its confirmation.
I tried posting this earlier today, however, was experiencing technical difficulties. Goodluck trading guys.
Like and Follow me for more analysis :)
P.S - I'M A 100% TECHNICAL TRADER. NO FUNDAMENTAL RESEARCH HAS BEEN TAKEN INTO CONSIDERATION, trade carefully.
The Orange lines could be possible price movement if we experience a few double tops or any reversal patterns at support zone.
Take Care.
Hope everyone's been well. Thought I'd give give a nice easy setup for our British Pound / Swiss Franc.
We are referring to the yellow line that has been drawn. As you can see, we have a nice looking Bear Flag thats been forming on all time frames.
Our strong zones of Support and Resistance are drawn in, this is most definitely a bear flag, so we can kind of see a push down from sellers to our strong support zone, the perfect take profit.
ENTRY:
-There were 2 drawn in possible entries, one at the top of the push (best for risk and reward ratio)
-The push through support - confirmation, and the pullback to that *NEW* resistance would be the best entry as its confirmation.
I tried posting this earlier today, however, was experiencing technical difficulties. Goodluck trading guys.
Like and Follow me for more analysis :)
P.S - I'M A 100% TECHNICAL TRADER. NO FUNDAMENTAL RESEARCH HAS BEEN TAKEN INTO CONSIDERATION, trade carefully.
The Orange lines could be possible price movement if we experience a few double tops or any reversal patterns at support zone.
Take Care.