IvanLabrie
Long

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

FX:GBPCHF   British Pound/Swiss Franc
212 18 11
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.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803).
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 MarkLangley
2 years ago
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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MarkLangley PRO IvanLabrie
2 years ago
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 MarkLangley
2 years ago
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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ImranIshaq
2 years ago
Hi Ivan did you mean GBP CHF instead of GBP USD in the description?
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IvanLabrie ImranIshaq
2 years ago
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 IvanLabrie
2 years ago
CHF: Index chart
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ImranIshaq IvanLabrie
2 years ago
Ok. thanks...very insightful. Good luck in your trade.
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IvanLabrie ImranIshaq
2 years ago
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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IvanLabrie
2 years ago
snapshot
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IvanLabrie
2 years ago
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
2 years ago
I think we had almost same price for our entry:
See image....
https://moorekapital-gmail.tinytake.com/sf/MTg2NTE1XzExNzE4MTQ
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IvanLabrie moorekapital
2 years ago
Great! Looks like a winner.
+1 Reply
moorekapital moorekapital
2 years ago
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 moorekapital
2 years ago
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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IvanLabrie
2 years ago
snapshot


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