GBP/CHF: Another Leg Down = A better Long Entry

My GBP/CHF Trades have unwound and my small profit stops were hit taking me out of the long side. Again as I have stated before I see much less profit potential on the short side As the GBP has fallen a great way and my recover early next year. One could short it at these levels but be wary as the pound can bounce back hard and take out more pips than you though it could. Before you know it your on the short side with a loss. I will wait for the current downward momentum to revers a bit before I enter long again.

My previous stop was hit and although I don't like to lose pips I'm always thankful for using my stops as it prevented me from losing more than I did. I'm long on this pair and the timing will be important.