Continuation of downward movement

GBPCHF is still in a downward channel long term and revisting 1.39 region is highly likely in the coming week(s) give long term pressure on the pound against the dollar and the dollar against the chf.
Price broke lower yesterday (16/02/2016) and after a retest of upper trend line a move lower is very possible.

Giao dịch đang hoạt động:

Trade is still active. Opened at 1.4150.
Awaiting further downward movement. This can reach sub 1.37.

Đóng lệnh: dừng lỗ:

STP reached at 1.3875 for a total of about 200 pips due to entering additional lots as we went lower.

Giao dịch đang hoạt động:

New short opened after stop got hit after awaiting close of 1H candle. New entry at 1.3860 with stop at B/E + 5 pips.

Đóng lệnh: dừng lỗ:

Stop triggered. Profit of 5 pips.

Giao dịch đang hoạt động:

New order triggered at 1.39 with TP at 1.3795. Downward pressure remains.

Bình luận:

Position is still open but with a big DD of 194 pips. We are still very much in a bearish channel hence the position remaining open. Looking to add to my short at these levels once I see confirmation of continuation of downward movement.
Given that:
- We have reached resistance at 1.4140;
- RSI now at the other side of the spectrum (i.e. overbought);
- RSI showing a hidden bearish divergence on 4H and Daily;

I'm expecting reversal back down next week, with maybe some hesitation at 1.4070.

Giao dịch đang hoạt động:

Added additional short at 1.4210 level which brought my average entry at 1.40152. Given recent lower highs and lower lows a reversal might start with a new wave down towards 1.36 and lower. Keeping trade open but paying close attention.

Bình luận:

Trade still open with price at B/E.
Price just broke through the 1.4 level. We should start seeing newer lows and reach 1.39 and later 1.3730.
If that level breaks we could very well reach 1.36 and lower.

Đóng lệnh: dừng lỗ:

Stop reached after putting it to B/E + 20 pips.

Giao dịch đang hoạt động:

New short triggered at 1.4005 with target at 1.36.

Giao dịch được đóng thủ công:

Closed at 1.3680. Price showed some reluctance to go lower and RSI and MACD are oversold on 4H. Might go up a bit to retest breakout. Will look for new short higher.

Bình luận:

New order got triggered on the 4th at 1.3705 and target reached at 1.3500 today on the 6th. Will probably wait for another retracement before shorting again.

This pair could very well retest low of 1.26 which was reached when Swiss let go of dollar (I believe it was?).