StevenH
Short

GBPCHF cyphers

FX:GBPCHF   British Pound/Swiss Franc
Just missed the cypher on Friday with this pair. Hopefully we can make up for that by completing the bearish cypher (orange) while we consolidate in this ascending wedge pattern.

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Cormegamontana
9 months ago
Hi StevenH, why have you got SL @ 1.43312, resistance seem to be @ 1.43079 ?
Past 3 times price bounced off this point and would be a better risk/profit ratio......glad for your thoughts as usual.
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StevenH Cormegamontana
9 months ago
Hello, Thanks for the comment! The reason my stop is a bit higher than previous resistance is because i want to give the trade a little room just in case we get a long wicked candle that goes past the 1.3079 level and gets pushed back down to close below this level. During my testing process a while back i discovered that putting stops right at previous resistance on the advanced patterns i trade actually gives me a less profitable strategy than putting stops above that level. Hope this explains my reasoning pretty well and thanks for the interest in my post!
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Cormegamontana
9 months ago
Yes it does and sensible it is.....thanks.
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