cvfxwealth

GBPCHF Channel Trading

Short
FX:GBPCHF   British Pound / Swiss Franc
GBPCHF has ben channeling for 3 weeks now and still holding. Long term direction is still down and I am looking to place a sell near the top channel.

Again, I am only looking at sells as that is the main direction. If you do plan to buy at the bottom of the channel make sure you set short stop losses.

Indicators:
1. RSI on daily and 4 hr in sell zone.
2. Channel holding strong.
3. Overall GBP pairs are weakening.

Entry 1 @ current price of 1.1889
Entry 2 @ 1.1975

TP @ 1.1810

Good luck and let me know if there are any questions.

Charles V
CVFX Management
Trading made Simple
Comment: Target hit, net 79 pips.

Comments

wow, good call on this one!
+1 Reply
@Kavfx glad you could make some profits on this! Entered on our end and took profit this morning
Reply
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