Akil_Stokes
Long

Bullish Bat at Previous Structure lows

FX:GBPCHF   British Pound/Swiss Franc
I'm a little late on getting this idea posted, but we had an abundance of advanced pattern trading opportunities setting up as my live trading session came to a close. Some have since rallied and some have been stopped out. This particular one is still at market and for those who like to take more of a conservative approach, may be putting in a retest of structure in the form of a double bottom. Take a look at the RSI as well, significantly oversold.

I've been doing a lot of work with this pair over the past month or so and this pattern happens to be in line with my underlying prediction for the pair. Coming back into previous outside returns provides a nice structural level to place stops. Hopefully we'll see another bounce off of this area and make our way back up to the 53 even handle.

Have a great weekend traders, and if you missed it yesterday, here's the link to my latest Weekend Review video
https://www.youtube.com/watch?v=OKP7_cpupyM&list=UUVveEks3MWZqOsvzTF_LGQg

AKil
Akil Stokes -Head FOREX Trading Coach at Trade Empowered
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Related Ideas

TheBestMA
2 years ago
Hi akil, also we have 50 day MA support at this level. Keep going high, thnx a lot.
+1 Reply
Akil_Stokes TOP TheBestMA
2 years ago
NICE!
Reply
Sam0101
2 years ago
Hi aki, what u think on USDJPY for now
+1 Reply
Akil_Stokes TOP Sam0101
2 years ago
Funny you mention that pair. We spent a lot of time in yesterday's live room session breaking down the pro's and cons of that trade. I REALLY liked a sell on the daily because of the close. But on the 4 hours, we had the HHHC. SInce I don't execute trades on the daily...yet I couldn't enter. i wouldn't enter now, but I think it still has at least a little lower to go before we hit another decision point.
Reply
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