GBP/CHF - Time to Play the Zone ?

6 Jan 2019

This is going to be a zone play, which is outside our typical ichimoku setups. When pairs stop trending it gets a little harder to trade with ichimoku unless you are on a really small time frame, so instead we'll be look to trade the consolidation zone. I am watching for a rise back p to the top of this zone, and a good rejection candle there to take a short. I've drawn out partial take profit levels for us to aim for as we then look to ride it back to the bottom of the zone. Since we are in consolidation this one may take a little longer to develop. If we fail to get a good rejection at the top of the zone or we break out of this larger zone, this setup may become invalidated.