FX_IDC:GBPCHF   POUND STERLING / SWISS FRANC
30 0 2
Nice bearish Bat setup on the GBPCHF             4hr chart. I like to wait for a retest of the entry price for Bats (as supposed to a butterfly pattern that just collapses...) and it looks like we're getting there. Divergence on both the RSI & Stock with price...

In the big picture, this pair has broken through strong weekly support and has been trying to retest that trendline . This setup gives good R/R for both TP1 & TP2 and has the potential to go even lower.

DIsclaimer, this is not trading advice, merely my analysis based on my trading plan. Please trade your own plan etc. etc. etc.
Trade active: Just managed to stay in the trade with a SL of 1.2911. We'll look to the PMi's Thurs & Friday to give some market direction. The GBP has been on a bit of a bullocking run and CHF will weaken with a strengthening USD. Look for the market to sell the big rallies in GBP. Lets see if the pattern is complete...

Green trades!
Trade closed: stop reached: SO, a survey of 2000 ppl. in the UK managed to prop up this pair and take us out of the trade. Nice tight stop ensured minimal losses. I'll monitor the data coming out at the end of the week to see if there is an opportunity to re-enter.

All eyes now on NFP on Friday.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out