GBP/CHF Rectangular Formation 100+ Pip Sell Opportunity

GBP/CHF Rectangular Formation 100+ Pip Sell Opportunity

24 May 2016, 08:51
Roberto Jacobs
0
6

GBP/CHF Rectangular Formation 100+ Pip Sell Opportunity

GBP/CHF appears to have finished the 3rd wave buy and now is correcting. The currency pair is forming a continuation pattern which is called 'rectangular formation'! There are few reasons of why a sell opportunity is expected: 1) there is a non retraced candle 2) we are expecting a 4th wave correction. Our opportunity is to sell the GBPCHF after the break and retrace of the side way move. We are aiming to take profit at around the 1.4200 area.


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