mcquak
Long

Bullish Gartley helps emerge Bearish Shark

FX:USDCHF   U.S. Dollar/Swiss Franc
132 9 0
Bullish Gartley (in pink) is now in play and possible bearish shark (in orange-light) is emerging. So this is a good oppty to go long with clear target levels. First profit target is at 0.90710 (Shark's A point, Gartley C point). Ideal profit target is at C shark completion around 0.9168 - 0.9184
Don't scare me, pal. I'm still short. :-) I want to see "0.88" numbers again. :-)
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I would be long on this USDCHF right now. The large gartley he showed pushing it is complimented by a smaller bull butterfly.
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OK, guys. I'm out at BE. :-) Let's see, where it wants to go now. :-)
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mcquak ForceFollower
It was nice breakthrough, what a pity you were stopped ....
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Don't worry, I reentered short and had two nice trades. :-) I didn't give up on it. It's got one of the strongest trends now.
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I pulled the chart back and re-analyzed it. I think its going to go straight up now.

Looking at the daily chart,
1. 2013-12-30-00:00:00 is the start of a bull butterfly.
2. 2013-02-01-00:00:00 is the start of a monster bull butterfly
3. There is a downward wedge pattern on the daily chart

All 3 items of the above, happen to co-inside now.

What are your thoughts?
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A recovery seems likely, but I remain bearish here. First let's see, if it can make it to go above your D point (0.8344). I will be looking to go short just below it. If it breaches that level though, I expect the rally to stop at max 0.8914, below the high of 0.8927 - that's where I will be looking to go short again with a stop just above that high.
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Your going to enter right before the b point? that is usually a place that holds resistance. i also think the x point is pretty weak and has poor structure.
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I expect another leg down very soon, to the .8778 level.
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