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.
Indeed, nice RR. But very dangerous setup, looks like a great wedge breakout to go short too. I hope you make profit, but I will not take this one, Im already against CHF here:
piphunters
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thanks mate, I will be watching the current level closely and add more positions according to the following price action
piphunters
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Piet.Hein
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Looks like the year is starting very good!
piphunters
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I am a bit aggressive on this trade, already we got a nice bounce up.
Piet.Hein
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Yes you are right, sometime we need to be aggressive. I have much caution! You know, people say that this forex thing is suspicious! :p
And now Im really willing that you make much profit on this one, as Im not only against CHF, Im long on GBP against EUR too! Short EURGBP after today rejection of main trendline, have a look:
piphunters
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GBCHF now there is no risk for me and in worst case scenario I will exit at 0, the potential reward warranted me to be aggressive on that trade. EURGBP I see a possibly ending diagonal and perhaps there is still room for some more upside before the structure is complete and the weekly consolidation is keeping me away from trading it.
Piet.Hein
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so maybe on this one the aggressive was me!
piphunters
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:)
Piet.Hein
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one more today, short nzdusd, are you on this one? touch of main trendline too