GBPCHF 750 PIP LONG!

Hello traders,

Today we are looking at GBPCHF where we are expecting bullishness.

Why are we entering?

• Price has rejected our lower trendline and structure where we can see clear rejection
  
• We have completed our 5th subwave in our impulsive wave, therefore we are expecting a correction
  
• We have 2 clear confirmations for a price reversal
  

What is our confirmations?

• Break of our descending Watch for Break trendline - this shows price has clearly broken our bearish structure
  
• We are waiting for a break of our descending 2HR EMA as this has been highly respected on our descent
  

Where are we taking profit?
We are looking to take profit at point A in our corrective wave which is 750 pips away (1.229)
Be sure to secure profit multiple times along the way as we can reverse at any point

Where is our stop loss?]
We are placing our stop loss below the previous low (1.15)
Move stop loss to break even after we run 30 pips to prevent any possible loss