FullTimeTrader
Short

GBPCHF-correction finishing at the 0.61 fib

FX:GBPCHF   British Pound / Swiss Franc
1110 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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Add short position!!! Let's go to profit...1.4900
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I Agree
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1 week!!
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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.
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I'm short position!! Let's wait and see.
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i like it ... looks like a solid setup
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