The overall trend of GBPCHF is bearish at the moment. After seeing a retracement back up to 1.1427 and failing to create a higher, a strong push by the bears indicate that the downwards momentum will continue. With a break of an upper limit and small break of the lower limit trend line, I expect a retracement up before down lower.
Note
Daily time frame analysis: I expect the 4th wave to be finish, and that it will now continue making its 5th waveTrade active
Trade closed: target reached
Wow! Prices came 3 pips to my stop loss! Lesson to be learned haha
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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.