GBPCHF Daily double top in the making Short

British Pound/Swiss FrancFXCM

Description

⋅ May 18, 2016 4:59 AM

I will keep a keen eye on the 1.4210 level for this pair. There is a deep crab coming at this level but what I like mostly is the fact that this might be a double top in D1.

The potential is huge as the first target is 1.3810 so do keep a look out.

It is similar to the EURCHF setup.

Trade closed: stop reached

⋅ May 18, 2016 10:54 AM

This trade is stopped out. Was a reaction 1.42 but it was sustainable to the downside.

Comments

Ravsan.rahmanov

⋅ May 18, 2016 4:52 PM

zigzag patterns

FemiFakoya

⋅ May 18, 2016 11:26 AM

Ahhhh, there was a favourable GBP Brexit news, it was a high impact. No wonder.

FemiFakoya

⋅ May 18, 2016 11:11 AM

Well, i think it's trying to form a bearish gartley for price high at 1.4801. It might get to 76.8 of that price high

Snehath

⋅ May 18, 2016 11:12 AM

This was a nasty move. I am now focusing on the EURCHF short

abbasial

⋅ May 18, 2016 10:10 AM

hi Snehath, is it activated?

Snehath

⋅ May 18, 2016 10:28 AM

Yes, I shorted at 1.4204

nemo.vr11

⋅ May 18, 2016 7:33 AM

hi snehath, which are your target and stop loss?

Snehath

⋅ May 18, 2016 7:48 AM

Will have my stops have to be above 1.4240. Targets are open.

nemo.vr11

⋅ May 18, 2016 10:32 AM

thanks snehath, I have followed your trade