TrendsWithBenefits
Long

Structure trade with a nice RR profile

FX:GBPCHF   British Pound/Swiss Franc
27 0 10
The GBPCHF             is about to hit a weekly resistance zone and we might see a reversal happening soon. Furthermore, this reversal zone happens to line up perfectly with the 141.4% fibonacci level of recent structure.
Stops go under the 127.1% ext of the A-B move, and the first target is a retest of the previous high. This gives us a nice risk profile of about 5:1.
I'm going to enter this trade if we get an RSI reading of 20.

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Major news events in 4 hours might affect the GBP.
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