KVE
Short

GBP/CHF: Back short on completion of the shark(s)!!

FX:GBPCHF   British Pound / Swiss Franc
169 8 5
My previous idea on this pair to go long off of a bounce from the support zone worket out great, most of my targets were met, I closed the rest because of this idea here!

I'm already short again now with a small position from 1.5056 because I had signs of PA reversing before full completion of the shark (SL at 1.5120). I am now looking to add shorts based on the completion of the smaller of 2 possible sharks. If the smaller shark doesn't work I will be watching PA around the resistance zone because completion of the bigger shark would also mean that the resistance zone would be broken, so not sure if there is alot of profit potential going short off of the larger shark , we could very well continue upwards from there to completion of the bat on the 4H chart!





Trade closed: target reached
CLOSED TRADE! SUCCESS!
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SL was hit and then it went right to TP2 and almost to TP3...
Damn... original SL still intact... mixed feelings...
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Yes, i took only TP1 because price could bounce again near 1.500. I have one long term short still running.
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TP1 booked, PA now close to hitting my stop @ BE...
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Nice one, this pair refuses to fall but i think this week should be decisive, i will use this shark to add positions. Regards.
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KVE FullTimeTrader
Tnx, it worked in any case, now to see if we will break the support zone below...
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Nice anlysis. I was just looking at this pair I will look to short around the shark PRZ of about 1.5071 to 1.50981. Probably avoid the 2nd shark you marked that completes at 1.13 as is not within confluence of the AB projection fibs?. Good luck hopefully it will go our way!
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KVE Trilo
Tnx, I hope your SL was high enough and you didn't trail it too soon as I did...
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