GBPCHF ANALYSIS - SHORT
It seems we are approaching the end of an Impulse Wave 2 ?
This trade seems exceptionally great due to the potential Risk to Reward ratio at almost 10:1 maximum, because I will attempt to trade from the start of Wave 3.
I've booked 3x Positions for this trade, to become active AFTER the price action hits the price point within the Fibonacci set Box/Rectangle. However the trade will only be active IF the Moving Average 5 Period (close) confirms a bearish trend, after approaching the end of Wave 2.
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(Note that if the price point does not reach the boxed/fibo area, the trade will not be activated.)
I don't provide a signaling service or suggest you trade these trades with me, I'm just sharing my ideas and hope that people may benefit from these ideas in some way. I've added a checklist to the top of the chart as this is my way of keeping with my trading plan. Please remember the golden rule. 'When in doubt - stay out'.
It seems we are approaching the end of an Impulse Wave 2 ?
This trade seems exceptionally great due to the potential Risk to Reward ratio at almost 10:1 maximum, because I will attempt to trade from the start of Wave 3.
I've booked 3x Positions for this trade, to become active AFTER the price action hits the price point within the Fibonacci set Box/Rectangle. However the trade will only be active IF the Moving Average 5 Period (close) confirms a bearish trend, after approaching the end of Wave 2.
------------------------------------------------------------------------------------------------------------------------------------------------------------
(Note that if the price point does not reach the boxed/fibo area, the trade will not be activated.)
I don't provide a signaling service or suggest you trade these trades with me, I'm just sharing my ideas and hope that people may benefit from these ideas in some way. I've added a checklist to the top of the chart as this is my way of keeping with my trading plan. Please remember the golden rule. 'When in doubt - stay out'.
Comment:
Updated entry area and wave count
Trade active:
Trade now active and already in profit :D