GBP/CHF 4th wave opportunity

Scott Barkley ProAct Traders

Bullish: Currently we are @ 1.2583 in a flag continuation pattern. IF we can break the flag resistance here, we are looking for GBPCHF a continuation to the 0.786 Fibo @ 1.2681 which should finish a 4th wave and set up a 5th wave down. Our overall target down is the double bottom @ 1.2400 area. The average daily true range (ATR) for the pair currently is 85 pips.

Author

Scott Barkley

ProAct Traders

Scott Barkley is the President of ProAct Traders LLC located in Round Rock, Texas. Scott graduated from the institute For Latin American Studies in Cuernavaca, Mexico.

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