FullTimeTrader
Short

GBPCHF-correction finishing at the 0.61 fib

FX:GBPCHF   British Pound/Swiss Franc
1106 6 22
This setup reminds me the EURUSD             last week (see below)
snapshot
Two equal legs correcting at the 0.61 fib retracement.
Price is making an attempt to rally but most probably will fail.
We have also:
- double top with hidden bearish divergence on RSI
- Strong resistance at the 0.61 fib
- bearish cypher on H4 TF still in play
- W1 convergence (lower low) showing price is making a trend change
Best regards.
*****************DISCLAMER********************************************************************
Always do your own analysis before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
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daniel.stano
a year ago
i like it ... looks like a solid setup
Reply
TRADER_PROFIT
a year ago
I'm short position!! Let's wait and see.
Reply
ard108
a year ago
How long you will keep the short position, till tomorrow? From the morning till now it was very little up and down now again a bit up trend; but not a big move down.
Reply
TRADER_PROFIT
a year ago
1 week!!
Reply
Hiisham
a year ago
I Agree
GBPCHF....possible To hit 2 Target
Reply
TRADER_PROFIT
a year ago
Add short position!!! Let's go to profit...1.4900
Reply
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