GBPCHF M30 Analysis- still on SELL
As the H1 Flag formation has not been broken and candles didn't open above 1.25305 or 1.25783 the signal is still SELL, but the moment those are broken trade will go into BUY.
Bearish Butterfly Pattern should give you an Entry Points and possible Take Profits. Please note I'm still learning the Harmonic Pattern, so be carefull when planning the actual entry- market is very volatile and probably spreads are killers if the pair is on High Trade Volume.
If you are on the Sell trade- you should be fine, Support and Resistance for M30:
R3 = 1.2478 R2 = 1.2476 R1 = 1.2472
S1 = 1.2466 S2 = 1.2464 S3 = 1.2460 -> adjust your T/P and S/L accordingly
Pivot Point = 1.2470 - below this price trade will stay in SELL and remain short, above will be in BUY/Mixed area.
Looking forward your comments and good luck with trades!
Bearish Butterfly Pattern should give you an Entry Points and possible Take Profits. Please note I'm still learning the Harmonic Pattern, so be carefull when planning the actual entry- market is very volatile and probably spreads are killers if the pair is on High Trade Volume.
If you are on the Sell trade- you should be fine, Support and Resistance for M30:
R3 = 1.2478 R2 = 1.2476 R1 = 1.2472
S1 = 1.2466 S2 = 1.2464 S3 = 1.2460 -> adjust your T/P and S/L accordingly
Pivot Point = 1.2470 - below this price trade will stay in SELL and remain short, above will be in BUY/Mixed area.
Looking forward your comments and good luck with trades!
Comment:
Market just made astonishing move and (probably) closed 90% of the open SELL positions- can't post a screen shot in the comments section, but refer back to your MT4 logs and you will see.