The GBPCHF is trading in a bearish market condition; yesterday it broke through an important LT support level. I was looking forward for a pullback and got it earlier this morning, it retraced back to the ST resistance level and the market formed a significant pattern with downward pressure:

Here are the details of my trade:

Entry: 1.5195
SL: 1.5268
TP: 1.4460

Yes, you read that right, this trade has a 10:1 risk reward ratio, I’m risking one percent of my account and shooting for 10%. Not sure though how much time it would take the GBPCHF to get there… But I know one thing for sure, it is likely to continue its way down…

Trade Safe!

Raul Lopez
Forex Training