USDCHF:
- Mixed signals for trend direction, although we did make a higher high, follower by higher low, the next rally to the upside failed and so I am happy to call this a downtrend.
- From the previous rally down, I can see an area of imbalance that we could be looking to test. After checking in on smaller time frames, the imbalance is still present and I am looking for a rejection from it.
- If we do get a rejection from this area, I want to see the liquidity left by the previous rally taken out, this is where I will be placing my final TP.
- I like to split my trades into partials; I will be looking to close the first trade at the first point of liquidity, longer term we may be seeing a drop to the lower point on liquidity.
- Mixed signals for trend direction, although we did make a higher high, follower by higher low, the next rally to the upside failed and so I am happy to call this a downtrend.
- From the previous rally down, I can see an area of imbalance that we could be looking to test. After checking in on smaller time frames, the imbalance is still present and I am looking for a rejection from it.
- If we do get a rejection from this area, I want to see the liquidity left by the previous rally taken out, this is where I will be placing my final TP.
- I like to split my trades into partials; I will be looking to close the first trade at the first point of liquidity, longer term we may be seeing a drop to the lower point on liquidity.