VietnamGold
Long

GBPCHF - Long A Counter Trend

FX:GBPCHF   British Pound/Swiss Franc
GBPCHF             has been in a bearish trend dropping from 1.4605 to a low at 1.3863. Looking at the 4hr chart, we can see an opportunity to long a counter trend for this pair. We spot a bullish divergence on the 4hr chart. Plus there is candlestick pattern called morning star at the recent low that could signal a short term bottom. There is a downtrend line that once price breaks out, it will go up to at least 1.42000.
So here is the plan:
- Buy stop @1.4000
- Take profit @1.4200
After trade is active, I will post a stop loss level.
Stay Tuned.
Trade active:
snapshot


There is a gravestone doji candlestick on the 2hr frame chart with very long tail. This shows buyers at support level. Also the price is trading above the downtrend line so it looks like a break out. I'm going to open 1 contract long GBPCHF at market price 1.3930 with stop loss @1.3870. Take profit @1.4200.

If price reaches 1.4000 I will add more long positions as planned.
Stay Tuned.
Trade closed: stop reached: Price made lower low. Stop reached.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out