LONG , waiting for reverse :
breakout and testing and form lower price ( like in M pattern in the picture)
reason:
RSI overbought
extension fibo already: 1618
breakout structure
TP @retracement fibo: 0.5 @1.40549
SL : below the U turn formation
GBPCHF is sitting on important daily,weekly and monthly levels and there is potential for a reversal from here if the structure holds providing a very good RR for a long trade, tomorrow we have the British GDP coming up and that may just bring the key reversal from here. Please trade these kinds of setups if you have the proper strategy.
Wish you all a very...
FX:GBPCHF
Completed Crab with RSI Divergence
CRAB
Point B:
38.2% to 61.8% XA
Point C:
38.2% to 88.6% AB
Point D:
161% ext XA
224% to 316% ext AB
Target:
TP1 61.8% CD
TP2 127% CD
Safe trades
