WendelinProbst
Short

GBPCHF: One Stop for 2 Pattern short Trades?

FX:GBPCHF   British Pound / Swiss Franc
Here we have a Bear Bat with very nice risk-reward. But even if it triggers the SL on this trade, one could only switch to new levels for targets and SL to play the bigger Bear Cypher . Each trade is valid an there is no reason to pass on the second one if thats defined by a strategy. I know the Bat came just shy of 50% with the AB leg but within 1% its still ok for me to take it.

Comments

Nice, I know that when Carney talks about patterns he mentions the fibonacci levels as being a zone rather than just a strict number. As long as you're consistent with it I don't think thats a bad strategy at all, especially since different brokers have different quotes
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