What's up everyone, here we have GBP/CHF with a bearish AB=CD pattern on the 4h chart.
The measurements for a valid AB=CD pattern are detailed below.
C: 0.618 - 0.786
D: 1.272 - 1.618
Excellent trading opportunity with over 1:3 risk to reward.
The D point may complete at 1.618 which is a key resistance level in the market.
A to B time completion is very...
Today, we are looking at TONS of confirmation with the USD/CHF on he 1D chart
After the completion of the Bullish ABCD pattern, it looks as though price will be reversing at the 0.618 level.
This is also confirmed by the Moving Average Indicator set to 50.
Price will continue to go down in the days to come as long as price doesn't break out...
I'm looking to get short around .7143 with my stop at .7160. I have two targets, first at the .7100 even handle and the second at the swing low at .7075. There is a ABCD completion around .7146 and a bearish Gartley completion at .7135. I really would like to see some bearish candles around the .7140's before getting short. Good luck trading out there.