NZDCHF gapped far down at market open today (Sunday) then recovered a bit of it's losses.
With the results of the Doha meeting earlier today I would not be surprised to see commodity dollars suffer this week.
I'm using this Sell Stop set up to catch a break of the recent low (.66016).
4H Divergence (shown with brown lines) helps support my views of this potential downward movement, I believe the post-gap noise will give way to some strong downward movement throughout the week.
TP is at my channel support (red line) and SL is at a level where I feel the analysis would be invalidated while still allowing the positions to cope with a bit of indecision resulting in a comfortable R:R of 3.01
With the results of the Doha meeting earlier today I would not be surprised to see commodity dollars suffer this week.
I'm using this Sell Stop set up to catch a break of the recent low (.66016).
4H Divergence (shown with brown lines) helps support my views of this potential downward movement, I believe the post-gap noise will give way to some strong downward movement throughout the week.
TP is at my channel support (red line) and SL is at a level where I feel the analysis would be invalidated while still allowing the positions to cope with a bit of indecision resulting in a comfortable R:R of 3.01
