SHORT GBPCHF Continues Downward to Test 1.272 Extension AB=CD
GBPCHF is continuing to fall as predicted in my previous idea:
After reversing off of the .5 fib retracement, I expect the pair to continue downward to the 1.272 extension of the most recent bearish impulse leg.
We also have a potential ABCD Pattern forming, with the D point converging with the 1.414 extension of the recent bearish impulse leg.
Trade:
Sell at market
Stop above .5 retracement
Take Profit at 1.272 Extension
After reversing off of the .5 fib retracement, I expect the pair to continue downward to the 1.272 extension of the most recent bearish impulse leg.
We also have a potential ABCD Pattern forming, with the D point converging with the 1.414 extension of the recent bearish impulse leg.
Trade:
Sell at market
Stop above .5 retracement
Take Profit at 1.272 Extension
Trade closed: target reached
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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.