FullTimeTrader
Short

GBPCHF-reached previous high-corrective triangle finished

FX:GBPCHF   British Pound / Swiss Franc
420 10 9
This pair reached the previous high from march 2015, a strong level of S/R
On W1 chart we see a hidden divergence
snapshot


Here on D1 chart we have and AB=CD pattern and the corrective triangle appears to be finished.

I expect some correction at this levels.

Best regards.
On the high to Low points (X to A) the pull-back hit the 0.86 to the Pip, So this is looking strong! Cheers.
Reply
Yes, it would be better to place the SL above the X point.
Reply
vertu750 FullTimeTrader
i have an SL of 1.5260 the risk is almost nothing to the break out. Looking good, just need the turn now!
Reply
vertu750 vertu750
could i ask, are you waiting on break through? channel or with such a small SL have you already made a short move?
Reply
Hello, personally i closed the position with some profits the next day because the price action seems to make a last impulse higher (false break or spike). We have also rate news for GBP this week and was already short on GBPAUD.
But im keeping an eye on this setup, its still valid. As i said, it would be safer to place the SL above the X point.
Regards.
Reply
vertu750 FullTimeTrader
i agree, i jumped in, down a little currently but a nice SL which isn't too far away. i think if it falls, it really will go. look at the SMI on a day and week also way over bought.
Reply
FullTimeTrader IvanLabrie
Hello, this pair is negative correlated with the EURGBP, may be the big correction has already started.
Reply
IvanLabrie PRO FullTimeTrader
Hard to say, if it does happen I'll just short eurgbp and eurusd higher. As long as below the previous impulse smaller degree wave 4 isn't breached should be good.
Reply
FullTimeTrader IvanLabrie
Yes, we could have one more leg down on EURGBP, right now im long and so far with profits
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out