Hello traders,
Today we are looking at
GBPCHF where we are expecting bullishness.
Why are we entering?
What is our confirmations?
Where are we taking profit?
We are looking to take profit at point A in our corrective wave which is 750 pips away (1.229)
Be sure to secure profit multiple times along the way as we can reverse at any point
Where is our stop loss?]
We are placing our stop loss below the previous low (1.15)
Move stop loss to break even after we run 30 pips to prevent any possible loss
Today we are looking at
GBPCHF where we are expecting bullishness.Why are we entering?
- Price has rejected our lower trendline and structure where we can see clear rejection
- We have completed our 5th subwave in our impulsive wave, therefore we are expecting a correction
- We have 2 clear confirmations for a price reversal
What is our confirmations?
- Break of our descending Watch for Break trendline - this shows price has clearly broken our bearish structure
- We are waiting for a break of our descending 2HR EMA as this has been highly respected on our descent
Where are we taking profit?
We are looking to take profit at point A in our corrective wave which is 750 pips away (1.229)
Be sure to secure profit multiple times along the way as we can reverse at any point
Where is our stop loss?]
We are placing our stop loss below the previous low (1.15)
Move stop loss to break even after we run 30 pips to prevent any possible loss
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Disclaimer
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Want more chart ups like this? Click the links below:
VIP Telegram: t.me/MMFX_VIPbot
FREE Telegram: t.me/MMFX_FREE
Instagram: instagram.com/mmfx__j/
VIP Telegram: t.me/MMFX_VIPbot
FREE Telegram: t.me/MMFX_FREE
Instagram: instagram.com/mmfx__j/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.