GBPCHF short entry just below the 1.42 mark

Hi all,

For this pair I am looking for a retracement towards the 1.41 - 1.42 area for a short entry. There has been some nice support in the past, which should turn into resistance now.

Stops and targets are in the charts. When in profit for about 50 pips, move your SL to break even or above recent structure.
TP1: 1.383 - Based on previous structure (last week and may 2015)
TP2: 1.342 - Based on the completion of both AB=CD structures
SL: 1.434 - Based on previous structure (above the C leg)

Due to the relative high stoploss, which is about 200 pips, I suggest taking a smaller position than you would normally do.

Best of luck!

Kommentera:

Still in this trade.

Kommentera:

Target 1 hit.
Moved stop to entry point.

Trade stängt: målet nått:

Both targets hit.