GBPCHF Channel and Fib Resistance, Trend Support

FX:GBPCHF   British Pound / Swiss Franc
486 5 16
The pair hit my fib resistance/channel resistance intersection and bounced back down.

I'm using a Sell stop as shown to take advantage of more channel movement for the pair uppon a break of my trend support (green) which would also coincide with the creation of a new low since the local peak.

R:R of position shown: 5

Related Ideas

gracias amigo
Thanks Kyle. Nice setups BTW. Hope to see more from you
Is a limit order fine ?
QuileHills forexmech
I'm using the stop order to confirm a bearish break of the trend support. A limit order runs the risk of entering on a bullish movement and stopping out quickly.
forexmech forexmech
Plz ignore the question :)
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