MrB_

MrB_

GBPCHF (Daily) - Price has hit Higher timeframe structure and broken the defending trend line (white line). GBPCHF (4 Hour) - Here we can clearly see price breaking the downwards trend line and respecting the 4HR structure (found from multiple touches shown by red/green arrows), retesting the broken trend line and also hitting a 38.2 Fib ratio. An engulfing candle...

MrB_

After a long bearish trend it finally seems to be stalling whilst forming a potential head and shoulders reversal pattern. I will wait for price to break the neckline at around 0.75715, retest this area before trying to find an entry for the continuation. Targets found from the distance from the peak of the head to the neck line and then extended from the neck...