Hey Guys,
I just wanted to show you some long-term analysis of interesting situation on GBPCHF.
There is no trading opportunity now. But there are many nice possibilities to trade in the future which will have FUNDAMENTAL base.
The situation today:
1. After HUGE decline the pair is near all-time low.
2. It is forming triangle for over 6 months (after that decline) on another strong rejection.
Trading opportunities:
1. False break long
- the pair will slowly go UP to resistence area marked on the chart.
- no strong momentum, no strong long bars
-> trade it as short continuation
2. False break short (even to all-time low)
- BO of the triangle (tradable) to ATL, but with no strenght
- huge potential for big profit
3. BO of the triangle UP/DOWN
- if the price will be really quick and strong, there is possibility for BO right from the triangle
- I would prefer the long BO but only the price is right...
-> trade in the direction of the BO
So once more, today there is no trade, but there is really huge potential with big Risk Reward Ration on this pair. If some opportunity will come, I will surely inform you.
Paul
I just wanted to show you some long-term analysis of interesting situation on GBPCHF.
There is no trading opportunity now. But there are many nice possibilities to trade in the future which will have FUNDAMENTAL base.
The situation today:
1. After HUGE decline the pair is near all-time low.
2. It is forming triangle for over 6 months (after that decline) on another strong rejection.
Trading opportunities:
1. False break long
- the pair will slowly go UP to resistence area marked on the chart.
- no strong momentum, no strong long bars
-> trade it as short continuation
2. False break short (even to all-time low)
- BO of the triangle (tradable) to ATL, but with no strenght
- huge potential for big profit
3. BO of the triangle UP/DOWN
- if the price will be really quick and strong, there is possibility for BO right from the triangle
- I would prefer the long BO but only the price is right...
-> trade in the direction of the BO
So once more, today there is no trade, but there is really huge potential with big Risk Reward Ration on this pair. If some opportunity will come, I will surely inform you.
Paul
