GBPCHF – Short signal

Written by Raul Lopez on . Posted in Trades & Analysis.

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

GBPCHF analysis

Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .
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