So guys I am in on GBP/CHF short - or I got in on the 2nd Oct - saw another failed retest of upper end of range plus all 3 indicators were giving the sell signals.
I got in at 12962 and am around 90 pips up. I am looking at the 12846 (green line on chart) level as a possible bounce area as that has been a major area of resistance in the past.
With very little in the way of data coming out on either currency over this last week and the next I am more focused on short term brexit jitters and potential global issues leading to a move to safe haven swissy.
Week beginning 16th October there are 2 days of heavy GBP data as well as CHF trade balance Thursday - my thoughts are that next week we’ll either see:
a break of the 12846 level in which case I will look to move my stop lower and wait for economic data to give direction - or we’ll see a bounce off the 12846 area in which case I will sit tight with my stop in place and wait for direction anyway from the 16th Oct week.
currently on 4 hourly chart we can see downtrend. However, this could quickly change which will give me more insight into short-term direction.
Is anyone trading this and, if so, what are your current plans?
Any thoughts on my analyses? Any macro data I have failed to take into account or a miscalculation on technical data?
Happy trading guys