I pointed this one out from the break of the high. Gchf and Echf look like they have begun downtrends. I will be looking to take gchf ultimately down to trend line, possibly further, but that depends on how it goes down.... No TP. Stop in profit or break even letting run, otherwise sell flags. I expect Echf to probably make a 23-38% retracement from this area or at least not far down-see my eurchf post. As of right now, Gchf structure screams sell to me and it is a breakout. I'm looking for GU to turn to downside this next week, just waiting for confirmation. I may have called some hellashious trades this week. I highly suggest you watch the forex market update video link in signature field to understand better what I'm looking at. I personally am most proud of my EJ and Echf trades and entries, but I don't think anyone understood what I was saying or seeing. Obviously gchf and echf can correct, I hope they do sooner than later, and I will signal second entry, but they may be down the road. I haven't even been getting to trade london or new york lately but traded New York this morning, or should I say, annihilated it. Next week I will be on every london/New York 5am to 12-1 pm eastern standard... I love patterns. Trade the breakout. Learn how to trade structure.
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Oh, and keep in mind the level that Gchf is at. This is the first high of the diagonal and a place I would like to see it break. Maybe we get a corrective pattern to go an entry for continuation. but I would not just enter it right at that level without any pullback. At least need a small flag to trade the breakout of that for risk purposes. And don't go crazy entering a bunch of trades right when the market opens expecting them to just go.