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24 July 2007

GBPCHF - Bearish Divergent Bar setup

GBPCHF - Bearish Divergent Bar setup


Early in European session GBPCHF on 4 hours chart has formed a Bearish Divergent Bar.

If there are still opened long positions - should be closed. Last bar has closed below the pink line which is enough reason to exit.

Those entered market on the short side are already on a safe territory. Bearish Divergent bar has shown significant angle and acceleration is slowing. Current session turned momentum also down.

So be prepared to take the next signal.

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