DislikedHere is an interesting picture on the EUR/CHF cross daily chart . As we can see, there was a clear bullish divergence between the actuall chart and the MACD histogram ponting at the high of the previous month at 1.5878 (two magenta lines indicate the divergence). This target has been finally reached on Friday. On the last Friday the market also touched and then bounced off of the green trendline suggesting taking a short position with a medium-term target being most likely located at least at 1.5574 level as an unfilled gap is still sitting down there (indicated by the red horizontal line). The stops for such a trade could either be placed above the green trendline or above the Friday's top, considering that it was an outside bar formed that day.Ignored
I am interested in your point of view of this idea, now that the price is above the trendline/channel.
I would like to know if we can still consider the trendline to make a trade, i mean, take a short if the price goes bellow the line?
Should we consider another approach to this pair now?
Best regards