Today we are seeing a Bullish Butterfly pattern develop in the GBPCHF pair. This pair is one of the more volatile ones so extra caution is advised. We are long from 1.3488 with stops at 1.3434. The target is move back to and even through 1.3689 so we are risking 54 to make 201 or silghtly better than 1:4 risk vs. reward ratio. This pair is bouncing off of all time lows so this is going to be a volatile trade and not for the weak hearted.
Derek Frey
www.elementaltrader.com
