GBPCHF Bullish Divergence

FX:GBPCHF   British Pound / Swiss Franc
The trading idea is based on a bullish divergence which gives a trend reversal signal. MACD supports the upward movement. RSI confirms price reversal from the support level . DMI allows opening long trades. Entry level is 1.31050 with stop orders at 1.29800 level. Profit targets are 1.33000 and 1.34500 resistance levels.
Trade closed: stop reached
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Thanks for your analysis. Can I just ask why we choose a stop loss of 1.298 compared with something like 1.3?
+1 Reply
@itseasya, usually swing low work as support / stop loss and swing high as a resistance / profit target . Here 1.298 is the last swing low and 1.33 is the last swing high . Hope it helps
itseasya chinchinmayua1
@chinchinmayua1, thanks so much! much appreciated!
I am new to forex. What was the reason of that big bullish candle a couple of minutes ago?
Good predicted
Would like to join your silver membership, but the 24.99$ for 1 month is not valid anymore? Also, the binance tips are already working? Thanks
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