GBP/CHF – Bearish Structure – 2300 Pips SELL Set-up

 GBP/CHF has been correcting within a Double Three Structure, within a Rising Channel, which is showing considerable signs that it could be ending quite soon.

Structure is signaling a possible 2300 pips fall and a Bearish Trend.

The Bearish view previously posted on the “GBPCHF – Bearish Primary 5 – Trend Reversal” article still remains on the table, just that the Structure was slightly delayed with another Bullish leg left.

If the current Wave Count is correct, GBP/CHF would be retesting the Flash Crash lows, labeled as Primary W (purple).

GBP/CHF is sitting at crucial levels, which represent Brexit and Flash Crash points of interest and vibration levels.

Weekly Chart (picture):

Technicals and bullet-points:

• 50% Fibonacci Retracements of Weekly Chart Bearish Impulses approaching – Brexit and Flash Crash Vibrations Levels
• Rising Channel upper trend-line has been retested while creating a new high
• Double Three in Intermediates (WXY) (orange) about to complete
• Minor C (blue) is showing an Impulse, therefore this would end the entire Minor ABC sequence in Intermediate (Y) (orange)
• Bearish Divergence present at the end of Minor C (blue)

Daily Chart (picture):

Daily Interactive Chart:

Fibonacci Measurements & Projections:

• Intermediate (Y) (orange) projection: 100% Fibonacci Extensions of Intermediates (W) & (X) (orange)
• Minor C (blue) projection: 61.8% Fibonacci Extensions of Minors A & B (blue)
• Minute V (blue) projection: 61.8% Fibonacci Extensions of Minutes III & IV (blue)

4H Chart (picture):

4H Interactive Chart:

 GBP/CHF – SELL Positions:

• Aggressive Entry @ 1.3530 or Market
• Moderate Entry @ 1.3600
• Conservative Entry @ 1.3650
• Stop Loss @ 1.3850 (or above, according to risk appetite)
• Targets: 1.3200 / 1.2900 / 1.2600 / 1.2200 / 1.1900 / 1.1600 / 1.1300

Safety measures:

• When in the green, moving SL to break-even or in profit
• Watching for the Bearish Divergence confirmation at the end of the 5^th Wave within Minor C (blue)

Many pips ahead!