(4h) Bears @Throne // Harmonics // Bearish Structure / IF=THEN ®

FX:GBPCHF   British Pound/Swiss Franc
9 months ago

As published already by Anilmangal, the weekly and monthly charts, we have this pair sinking in a strong bearish momentum ;

I'm trying to find the best option to take the train in progress without falling into the rails (i hope you do not lose your legs and arms) ;) - I DO NOT sell any kind of service, so please do not take my technicals as "calls" ;) - Thanks

The idea is to take the structure breakout. RSI still synced, i believe the price will test the bearish channel that is forging, not so sure about the harmonic pattern at 127% extension, first because point C that is not totally "valid" as ratio, secondly, because we have a strong daily resistance @1.4315, eventually the price zone where majority of the Bears are sitting waiting to enter the market at this momentum , we must wait and take a close look When/IF the price get there;

Following this sense, as soon as the price hit that channel trendline or the daily resistance, i expect some reaction on RSI , some divergence and some bearish structure, some kind of a consolidation before resuming major trend.

Safe trades;
9 months ago
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