IvanLabrie
Long

GBPCHF: A very aggressive long trade into a weekly/monthly trend

FX:GBPCHF   British Pound/Swiss Franc
213 18 13
I entered a long here.
Price is sitting at a weekly mode since the lowest low.
There's a daily downtrend signal that expired yesterday, and it seems like GBPUSD             is ready for a move up.
It's interesting how the monthly mode has supported price here, while the daily was in a downtrend, with strong up bars in between, and the weekly showing us no new low in 5 weeks next week.
Good luck,
Ivan.
Hi Ivan not going to argue that low also marked a 50% retracement of the recent 1.3810-1.4685 move on the daily charts so close and hold above 1.4247 would confirm your call based on my anaylsis
+1 Reply
IvanLabrie PRO MarkLangley
Indeed, in 4h it's confirmed for me. In the daily not yet, but I think it will next week.
Will we see drastic SNB action?
There's something off with how CHF is weak accross the board, and falls vs usd and euro, but not GBP yet. I think this divergence is really appealing on the long side all things considered.
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I am careful of SNB after last action but agree something at play and worth a cheeky brave play , next week will reveal more great contributions this week Ivan
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IvanLabrie PRO MarkLangley
Thanks! See the chart posted below, a chf index chart. Next week will be decisive in my opinion and pontentially will result in large moves setting up.
Have a nice weekend!
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Hi Ivan did you mean GBP CHF instead of GBP USD in the description?
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IvanLabrie PRO ImranIshaq
No, it's a relative strength thing I watch. If GBP can move up against the dollar, while the dollar also moves up vs CHF, then we have an interesting scenario. CHF would be the weakest.
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IvanLabrie PRO IvanLabrie
CHF: Index chart
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ImranIshaq IvanLabrie
Ok. thanks...very insightful. Good luck in your trade.
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IvanLabrie PRO ImranIshaq
Thanks! Same to you in yours.
I suspect we might see a gap up open on Sunday. Or a coiling accumulation pattern for a couple days.
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Ok, the corrective downtrend seems to have ended. I'm in with a buy stop at 1.43334, stop under the lows. Aiming for 1.52 at the very least.
+2 Reply
moorekapital IvanLabrie
I think we had almost same price for our entry:
See image....
https://moorekapital-gmail.tinytake.com/sf/MTg2NTE1XzExNzE4MTQ
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IvanLabrie PRO moorekapital
Great! Looks like a winner.
+1 Reply
moorekapital moorekapital
Pound dollar has also been fantastic!
I hope to ride this to the heavens.
See Image:
https://moorekapital-gmail.tinytake.com/sf/MTg2NTU0XzExNzE5ODE
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IvanLabrie PRO moorekapital
The data releases today will surely pay off.
It's interesting how usdjpy and chfjpy have fallen on no news and in an apparently bullish /complacent environment... As a sidenote.
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snapshot


Got out of my long for now, I don't see Carney's speech sending the price vertically up.
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Got out and looking to rebuy on a retracement.
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Choppy advance, not something I want to trade right now.
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