Gbpchfsell
Trend continuation 2618 on GBPCHFHi guys,
here we have a nice 2618 on a trend continuation setup, You can see we broke to the downside the last support level (black line) and now we are retesting it. We know that when broken, support could turn into resistance. In addition price is finding some troubles at this level.
We have a double top with rsi divergence that's been broken to the downside. So we have ultra confiirmation of our analysis.
Now we can exploit the market using the 2618 strategy. I'm going to sell the market if and when price will reach .618 level, stops above the highest high, first target at a retest. Second target down along with structure.
Let's see.
If you have any question, please fill the comment section below.
Otherwise, see you in the next chart!
Nice daily level on GBPCHFHi guys,
today i want to share a view similar to the GBPJPY one.
As we can see above, price has been clearly in a downtrend lately. Now we are heading toward the former resistance level that could turn into support. So we've created a little blue zone, in which we are going to seek for shorting opportunities in lower timeframes.
The risk to reward i put down in the chart usually correspond to my second target. I always have my first position out in 1:1 risk to reward in cases like this.
I'll let you know if i'm entering the market.
Hope you enjoy.
Good luck!
GBP/CHF Short?Coned upwards and now no where to go, if RSI not there and the blue S/R stay key, it should retrace back down. Target 1 is at a below a previous point of consolidation and T2 again, previous consolidation.
Fingers crossed, new to this!.
Feed back is encouraged.
GBPCHF ShortGBPCHf just completed wave A in the elliott wave sequence and now by the looks of the rsi it should be coming down for wave B and than up to wave c to come up to the 200sma in the next couple of days/weeks
GBPCHF Sell After a 5 wave cylce.This pair completed a 5 wave cylce upwards and broke bottom TL. After we can see a double wave retest of the broken TL. Sell here market in order to follow a double wave cycle towards support @ 1.3920 SL above last high 1.4215
GBP/CHF Thrust lower from a triangle on the way? GBP/CHF looks like it is making a contracting triangle in the wave 4 position.
So far I have labelled this triangle as being in the middle of making wave e which is the final wave of an Elliott Wave triangle.
I will be selling on a break of 1.4660 looking for an initial target of 1.4509 (38.2% Extension of wave 1-3)
The second target is 1.4317 which is the 61.8% extension of wave 1-3, Wave 3 was 2.618 of wave 1 and was therefore extended. In these situations I look for wave 5 to tend towards the size of wave 1.
