GBPCHF short entry just below the 1.42 mark

FX:GBPCHF   British Pound/Swiss Franc
113 2 9
9 months ago
Hi all,

For this pair I am looking for a retracement towards the 1.41 - 1.42 area for a short entry. There has been some nice support in the past, which should turn into resistance now.

Stops and targets are in the charts. When in profit for about 50 pips, move your SL to break even or above recent structure.
TP1: 1.383 - Based on previous structure (last week and may 2015)
TP2: 1.342 - Based on the completion of both AB=CD structures
SL: 1.434 - Based on previous structure (above the C leg)

Due to the relative high stoploss, which is about 200 pips, I suggest taking a smaller position than you would normally do.

Best of luck!
8 months ago
Comment: Still in this trade.
8 months ago
Comment: Target 1 hit.
Moved stop to entry point.
7 months ago
Trade closed: target reached: Both targets hit.
9 months ago
I have a similar view. I even entered already, too early of course at 1.39 but still holding and even planning on adding a small lot if we see confirmation of the end of this upward move.
11021992 _VincentP_
9 months ago
Price is currently in the PRZ. The bars will not load.
When the market opens again, I will enter a short position.

Good luck!
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