In this weekly analysis about GBPCHF, I will share a simple strategy but yet powerful enough to give all of you decent profits. First before explaining further, you all should know that trading is a game of information. And a game always related to a probability. Meaning every party involved in the game can not make sure that they know for sure what will happen in market. Everything analysis made will give you what probability higher than others to happen. Like if you walk out of your house and want to go to do shopping. You know what route you will take to deliver you to your favorite market place. You also know what vehicles you should take to make your journey more comfortable and faster for example. You also know how much money you should take to do your shopping, and what things you should buy. But do you know what will happen to you during the journey to the destination of market place you want?
Perhaps, you will get stuck in a traffic jams or you will find difficulty to get place to park your car or you will find annoying people or meet people you do not want to meet or bla bla bla.... There are so much probability you will have. This world like that and including the trading itself. So, you have to realize this , if not you will get to the wrong purpose to find a precision trading system that you will never find in this world.
Back to the GBPCHF, after breaking out 1.22866, this pair undergo a very well non volatile bullish trend and then this trend changes. Now market is "pausing" and take breath.
Forming a box range correction. So, the trading strategy in this kind of correction obviously difference than the last. So, what should you do?
First, you can wait until this correction finished by seeing market breakout the last resistance (1.29660) and jump to market after that (scenario 2)
Second, you can trade carefully inside this correction structure as a buyer. Meaning, you wait patiently on support and find a chance to buy on it if market near or at this support. And then riding the upward movement after that (scenario 1). The target already shown in the chart.
Okay, good luck then.
Perhaps, you will get stuck in a traffic jams or you will find difficulty to get place to park your car or you will find annoying people or meet people you do not want to meet or bla bla bla.... There are so much probability you will have. This world like that and including the trading itself. So, you have to realize this , if not you will get to the wrong purpose to find a precision trading system that you will never find in this world.
Back to the GBPCHF, after breaking out 1.22866, this pair undergo a very well non volatile bullish trend and then this trend changes. Now market is "pausing" and take breath.
Forming a box range correction. So, the trading strategy in this kind of correction obviously difference than the last. So, what should you do?
First, you can wait until this correction finished by seeing market breakout the last resistance (1.29660) and jump to market after that (scenario 2)
Second, you can trade carefully inside this correction structure as a buyer. Meaning, you wait patiently on support and find a chance to buy on it if market near or at this support. And then riding the upward movement after that (scenario 1). The target already shown in the chart.
Okay, good luck then.