Cenotaph
Short

GBPCHF 6H chart, short on lower lows

FX:GBPCHF   British Pound/Swiss Franc
General trend has been bearish for many months. The pitchfork indicates the trend and the mean of this trend (the red line). The mean is where price is likely to reverse towards. At the moment it's moving around a strong SR zone (a channel and SR zone as indicated by the blue horizontal line).

When it does start making lower lows, there's a good entry here for a reversal to the median line .

Let's see how it develops the next couple of hours.

Comments or idea's, let me know.

Good trading!
Comment: Didn't form at all, waiting for another reversal to set up
Comment: Setting up for a new short trade
Order cancelled: This is not looking to move down anytime soon
Comment: It's at a new major SR zone, lets see if we get reversal signs here
Comment: Reversal is likely to happen this time
Trade active: Been active for a while
Trade closed: target reached: Waited and the result is there, pleased :)
Price reached the outer parallel of the pitchfork, reversal here is very likely
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Reversal is in progress, this is how i'll be going to enter this trade
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Collected almost 290 pips :)
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