GBPCHF-rejecting from a strong resistance area

FX:GBPCHF   British Pound / Swiss Franc
847 6 25
After a stron rally this pair is finding resistance at a key level.
I expect a pullback and the the rally to continue.


- strong long term S/R
- trendline resistance
- round level 1.55000
- 0.61 fib extension of last ABC structure
- bearish divergence on stochastics
- RSI trendeline broken

SL and targets on chart

Best regards

This is just and idea, not a recommendation to buy or sell.
Always do your own analysis and plan before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).

Comment: first target hit, moving SL to BE
Trade closed: target reached: second target hit
Nice Job! Maybe it will fall to 1260!
Hello, i expect also a further decline. I will wail for a close below 1.500 and look for another setup there. Right now this trade is closed.
In long term it will go lower... you may see a potential shark there but i will only sell it either at the break out or if when it goes up higher and forming other shape because is too risky to enter now since it already so near to the trend line. great job.
Hello, lets wait for more price action and i will look for setups later. Regards.
BLKS FullTimeTrader
ya if it continue rise then i assume a bat pattern could be form... lets wait and be patience. =)
on this trade .. thank you for great work
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
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 Contact Support Ideas Published Followers Following Private Messages Chat Sign Out