gbpchf

[charles]

I am long gbpchf from 169,30 with stop @ 16875 (yesterday low).
closing the trade @ entry price 169,3 and waiting for the daily close...under or over the falling channel.

[charles]

The EURCAD have formed a H&S bottom and broke the neck line on the H4.
I am buying @ 148,1 with S/L 147,1 ...no target yet.

the eur has dropped like a rock, whatever the outcome with USD which is little flue, if and when the 1,40 will be broken, the eurcad, need a release not necessary trend reverse but it is severely oversold.
now that a head and shoulder top is formed on H4 there should be a sensible bounce.

I am adding @148,5 and moving the stop to 147,9.
target 149 for 1 lot and 150 for the other.
revised target 149,30...not 149.
will trail stop after 25 pips.
closing first lot, 149, 42.... (132 pips)
moving s/l for the second to 148,9

[charles]

deleting

[charles]

deleting

[charles]

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[charles]

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[charles]

deleting

[markelshark]

Charles, I don't normally trade the EURCAD but looking at a chart it definitely looks very bearish. That trend resistance line that you drew above your head and shoulders could cap any potential gains, reversal pattern or not, so I would watch that closely if I were you. Ultimately it is up to you but keep in mind a head and shoulders neckline must be broken for that signal to be valid and also the break of the trend resistance might produce a greater pop than the break of the head and shoulder neckline.

Hope this helps.

[charles]

sure, this is what i needed to understand, is a h&s enough signal or a strong trand.
as such, i will trail the stop over each 15 min chartss higher.

thanks Mark.