GBPCHF short entry just below the 1.42 mark
Updated
Hi all,
For this pair I am looking for a retracement towards the 1.41 - 1.42 area for a short entry. There has been some nice support in the past, which should turn into resistance now.
Stops and targets are in the charts. When in profit for about 50 pips, move your SL to break even or above recent structure.
TP1: 1.383 - Based on previous structure (last week and may 2015)
TP2: 1.342 - Based on the completion of both AB=CD structures
SL: 1.434 - Based on previous structure (above the C leg)
Due to the relative high stoploss, which is about 200 pips, I suggest taking a smaller position than you would normally do.
Best of luck!
For this pair I am looking for a retracement towards the 1.41 - 1.42 area for a short entry. There has been some nice support in the past, which should turn into resistance now.
Stops and targets are in the charts. When in profit for about 50 pips, move your SL to break even or above recent structure.
TP1: 1.383 - Based on previous structure (last week and may 2015)
TP2: 1.342 - Based on the completion of both AB=CD structures
SL: 1.434 - Based on previous structure (above the C leg)
Due to the relative high stoploss, which is about 200 pips, I suggest taking a smaller position than you would normally do.
Best of luck!
Note
Still in this trade.Note
Target 1 hit.Moved stop to entry point.
Trade closed: target reached
Both targets hit.
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