GBPCHF Trade Setup Short Opportunity at D
CHART TIMEFRAME: 4 HOURS
PATTERN: BEARISH SHARK
PREDICTED PRICE ACTION: GBPCHF will complete Bearish Shark Pattern at D Leg 1.34230. Possible retracement to Fibonacci 38.2 and 61.80.
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
PATTERN: BEARISH SHARK
PREDICTED PRICE ACTION: GBPCHF will complete Bearish Shark Pattern at D Leg 1.34230. Possible retracement to Fibonacci 38.2 and 61.80.
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
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Trade generated 100 pips and pulled back. We closed 50% of the positions and moved our Stop Loss to entry level.
The main trend is strongly bullish.
1.33200 – 1.33000 ( Fibonacci Retracement 23.6 and MM 2/8 Pivot of H4 Chart) is the main support of the H4 Chart timeframe. We have EMA 50 located at the same level.
Break below 1.33000 may take the price 1.32230 – Fibonacci 38.2 and EMA 100 of H4 Chart-
Levels to Watch:
On the upside: 1.34280 – 1.34480 – 1.45490
On the downside: 1.33660 – 1.33060 – 1.32750 – 1.32440
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