Downward target reached...

FX:GBPCHF   British Pound / Swiss Franc
74 8 0
let's try the opposite direction; the more that thiis will be within the trend and that the target we had reached is also in line with the mdian line of the trend fork.
I like your tenacity and resilience. :-) I believe this time your idea will be amply rewarded.
motleifaul ForceFollower
Thank you. I hope that it is the market that tenant and resilant, too. This time it looks like that. I take a first profit here a little bit above the yellow MA and hope now that the blue pronk will be reached. If this upward trend will be reconfirmed I even may take a new long position.
ForceFollower motleifaul
I've got a hunch it's not done going up. It's only retraced 0.382 of the down move - if it's all it can make, we'll see new lows, which I sincerely doubt in.
motleifaul ForceFollower
I have now closed 3/4 of my -this time really large- position and took the profit. One quarter is still current. As you can see the blue pronk has been reached. Next target would be the 50% retracement of the previous downward wave. I hope that this will still be reachable. But then I would not exclude a short downward retracement from there before the way might be cleared towards outer pronk.
ForceFollower motleifaul
Yeah, run the winner as long as you can. Consider also the fact that 1.5000 may act as a magnet for price... Not 100% sure, but possible (I give it some 75% chance it'll get there).
motleifaul ForceFollower
Good idea.
motleifaul motleifaul
Nevertheless I am satisfied here. The day may probably end with a white candle with a long upward wick. This will not be a good sign. I'm getting out and take the last quarter of the profit now.
ForceFollower motleifaul
Splendid. I'm also out of this pair. My last long position in the sterling is in GBP/AUD. Looking to take profit just above 1.90. I give it 80% chance.
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