GBP/CHF:
Date: 29 November, 2016
D1 Graph: Short Trend
Price made a correction up and stopped in a resistance zone of horizontal resistance between 1.25100 and 1.26800. This zone is just a bit below the Fib level 38.2% for a corrections and diagonal resistance. Price remain below the 200 ЕМА, as also the cross of both EMA's is still negative 50 ЕМА is below 200 ЕМА.
Price Action: Doji bar at horizontal and diagonal resistance - Possible signal for short
Alternative scenario: If the price does not stop and continue heading higher and crosses above the Fibo 38.2% and above the diagonal resistance this scenario will be faulse.
Technical Indicator:
DEM (14) - Close to the overbought zone
Price for Entry short around: 1.25900
SL: 1.26900
Jr. Trader - S. Fuchedzhiev
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