farid_ardavani
Long

GBPCHF double combination pattern

FX:GBPCHF   British Pound/Swiss Franc
i will be looking for buy opportunities next week
the overall trend is downside, but it seems that this correction phase is about to end with a double combination structure ending with triangle and MACD divergence tells that upside momentum is increasing.
because its a counter trend trade, and the movement to upside will be another correction phase, we have to move the stop to break even as soon as our trading strategy allows.
Comment: this point is a good level for taking profit because of the channel and divergence.
if it reverse to the downside i will look for sell setup and for more upside, i wait for a correction and i will be a buyer on break out of the correction
snapshot
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