GBPCHF 1:5 Risk Reward LONG (Potential Setup)

FX:GBPCHF   British Pound / Swiss Franc
LogicStrategy Quant scores shifting in favour of GBP, compared to the weak score provided for CHF.
- This was following the recent decrease in unemployment in the UK down to 3.8% from 3.9%.
- CHF PPI dropping significantly to 0% with a forecast of 0.2%
- CHF retail sales dropped significantly this month, down to -0.7%
- SVME PMI down for CHF to 48.5 with a forecast for 51

All signs showing the safe haven CHF is overvalued and requires a correction whereas GBP has started to gain strength amidst brexit negotiations being extended.

- Waiting for any long confirmation signals before considering an entry
- still to early in terms of technicals
- Would like to see 4HR higher highs, buying power candle stick confirmations etc..
Comment: No clear signs of support right now we'll see if the area holds or not. Doesn't look like it considering the momentum
what now?
mattycheung Kingzman
@Kingzman, no clear signs of a technical support level so not going to enter the trade, I'd like to see higher highs in 4HR but nonnyet
+1 Reply
Hope for this one!
mattycheung Kingzman
@Kingzman, yes haha! Still to early to get any entries as mentioned in description there's no technical signs just yet.

Maybe if the support holds it can still have a shot however if it breaks I'll tick it off my list as not viable
+1 Reply
Kingzman mattycheung
@mattycheung, hopping that Friday was the lowest it would go. Looking for a D1 fibs 50%. Cheers
Nice one
mattycheung khamis12
@khamis12, thanks, likely I'll be removing from my watchlist if the support doesn't hold out. If it congests around this area though it may be more interesting
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out