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GBPCHF Bullish Gartley Pattern and Potential Long Opportunity Update: TP1 Reached

GBPCHF Bullish Gartley Pattern and Potential Long Opportunity

Published: 06-18-2018

Description: GBPCHF is testing the Fibonacci 61.80% of XA. If it breaks below 1.31900, the next target will be Fibonacci 88.60 1.31600 – 1.31500 region.

Pattern: Bullish Gartley. Bullish Harmonic Pattern would be completed t D Leg. And we will look for a buying opportunity.

Our Trade Idea:

TRADE: LONG

AREA OF THE ENTRY: 1.31600- 1.31500

STOP: 1.31300

TAKE PROFIT 1:  1.31850

TAKE PROFIT 2: 1.32000

NOTE: We will send a notification to premium members as soon as the trade is executed.

Update: Trade reached the first target. We close 30% of the positions and Move SL to entry. Profit so far 35 pips

You can follow the trade: https://www.tradingview.com/chart/GBPCHF/GpSWEgCn-GBPCHF-Potential-Long-Opportunity/

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

 

 

GBPCHF Bullish GArtley:  Forex Trading involves risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

 

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Ercu Kartas

Treasury Department Dealer Technical Analyst FX Trader

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