TradingView
DLavrov
Feb 7, 2018 3:04 PM

GBPCHF Bullish Divergence Long

British Pound/Swiss FrancFXCM

Description

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

Comments
itseasya
Thanks for your analysis. Can I just ask why we choose a stop loss of 1.298 compared with something like 1.3?
chinchinmayua1
@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, thanks so much! much appreciated!
UnknownUnicorn1676723
I am new to forex. What was the reason of that big bullish candle a couple of minutes ago?
Sasuma
Good predicted
vpata
Hi,
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
More