Trade Recommendation: GBPCHF

The price is going to move below the cloud. It will give us a trend reversal signal and a new trading opportunity. We can place sell orders at 1.29300 level in order to catch possible downward movement. The daily chart looks bearish in short term and supports selling on lower time frames. DMI confirms trend market conditions and allows open short trades. Stop orders must be placed at 1.30900 level. The main profit target should be near 1.27000 support level. Don’t risk more than 3% from your deposit in this trade.

Market: GBPCHF
Sell: 1.29300
Stop: 1.30900
Profit Targets: 1.27150

Author:
Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.