GBPCHF Multi TF Confluence
GBPCHF, We have 61.8 retracement last week perfectly on the weekly charts. Whilst we are moving within a channel on the 3hrs charts we have a perfect Cypher just missing the 161.8 breakout of A wave. Both timing perfectly for a big sell setup. If we break then top of this last swing then the pattern is invalid however if your aggressive you can take it now with SL just above last swing high.
Currently at the top of a big sideways channel on daily/weekly charts however looking good for a big RR sell setup down close ot the bottom of channel as per cypher pattern. We could potentially see another reversal however should this play out this would be a trade to keep long term and see if breaks the bottom of channel out for a much bigger TF long term sell trade.
Currently at the top of a big sideways channel on daily/weekly charts however looking good for a big RR sell setup down close ot the bottom of channel as per cypher pattern. We could potentially see another reversal however should this play out this would be a trade to keep long term and see if breaks the bottom of channel out for a much bigger TF long term sell trade.
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.