Short EURCHF opportunity

Long or Short: Short
Time frame: 4H
Entry Point: At market 1.185-1.190
Stop Loss: 1.200
Profit Target/s: TP1 at 1.140 and TP2 at 1.125
Reward-to-risk Ratio: 4:1
Risk percentage: 1%
Indicators used: Andrew’s Pitchfork and RSI is being overbought
Trade Rationale:

EURCHF is moving to previous resistance (1.189) with overbought level and this zone is the next Andrew’s trend line channel. So, they can rebound and moving back to below Andrew’s trend line which can be made maximum target. However, the pair can not decline to below Andrew’s trend line after rebound and the pair has strong trend to rally back and breaking the next Andrew’s trend line channel, we should exit for taking profit.

Thanks for who read and share your opinion for this analysis

Wohoo! My first target was hit. I got 500 pips and now waiting for the second target 1.125.

Yes! my idea is completed. The second target was hit already. Time to celebrate on this weekend.