jackmyattFX
Short

GBPCHF Short trade setup

FX:GBPCHF   British Pound / Swiss Franc
695 0 18
GBPCHF             Potential Short position here.
-Bearish trend since the start of 2016
-ABCD extension in play
-Watching for rejection around the 0.5/0. 618 retracement area (DAILY)
-Breakout of the triangle and currently retesting area
-Daily significant support which is now resistance (the purple boxes)
-I'm waiting for a breach of the trend line and minor support (purple box just below price)
-Break and close below 1.2426 and we will short
-Be patient DO NOT jump the gun here.
-It also has the potential to break to the upside.
Trade safe and have a great week!!!
Comment: Daily viewpoint....Significant support now resistance

Comment:
Order cancelled: Trade cancelled as we didn't see the price which I wanted to enter at. On to the next one
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