DislikedWhat about short on GBPCHF? The previous swing low reached, retracement 61%, shooting star. Also trendline on the 4H chart is breached.Ignored
As you may have seen I got my fingers burned a little earlier trying to short this pair too!
What I would say is that the last major swing low (which hit the 1.5100 level) has now been broken to the upside. Although a new trend has not yet developed it does suggest weakness in the downtrend so I would be cautious about trying to sell this pair.
I have attached a chart and highlighted (in blue) what I consider to be the major swings that define the trend.
I have also attached an amended version of your H4 chart as I think you should have adjusted your trendline to the swing low that I point out in the chart. This might have given you a different perspective on the H4 outlook.
Could I ask a favour too... there are a couple of squiggly lines on your chart (red and blue) that show some kind of channel. In future, would you mind posting your charts without them on please as it makes it hard to see what's going on!
Regards,
Dan