GBPCHF - 4hr Timeframe - Update on Short Opportunities

OANDA:GBPCHF   British Pound / Swiss Franc
Following our previous analyses on both the daily ( and the 4 hr timeframe (, which are going exactly expected, we are noticing that in the last sessions the pair has gone through an expected substantial, but quick consolidation. This is good news to us, because it confirms the pair’s intentions for more downside.

More in detail, we believe that after the first impulse to the downside breaking the previous ending diagonal , which we will consider as one unique movement although it had a few spikes to the upside, the pair has gone through an “ABC” type correction in the shape and form of an irregular flat, the last piece of which (“C” leg), itself subdivided into a five wave movement, has come or is coming to an end.
If this were true, this would be a good occasion to add further short positions to the pair, awaiting the next impulse to the downside. In this respect, watch for potential breaks of the small trend which is forming on the 4hr and 60min timeframes for said short opportunities.

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Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.

Thank you for viewing.
Comment: Squeezing price action at the top, the pair could be now getting ready for the drop.
Watch out for potential breaks

same comment, eurchf should be a better shorting deal then !
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