Hi contenders,

Looking for patterns on the 1h charts I observe a Bullish Butterfly on GBP/CHF using Fibonacci Retracements:
(Screenshot on 30 min chart for better understanding)


Down trend Before resistance at ~1.529
Gone up (1) and retracing to ~78.8 % (2)
Going back up again (3)
Going down now on line 4. Place order at confluence (ellipse) of 127% of line 1 and 162% of line 2 + Resistance.

Initial SL 30 pips lower, after major retracement level and TP at 62% of line (4)
It still went down another ~17 pips, but now it is up ~35 pips with ~2 mio exposure.

Regards,
mosu_d
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