moorekapital

GBPCHF: MY LONG TERM MAP

FX:GBPCHF   British Pound / Swiss Franc
64 3 9
1.5500 -1.5300= Key Zone =Start of the shock . This has proved a strong ceiling so far.

Up Trendline is broken, and price is caught up in a trading range of 6weeks at a common price.

Regarding the above, my bias is short once price detach from the 6weeks MODE.

There's a lot of room to the downside, given enough time.
That said, I'll be sitting on my hands, as far as the weekly chart is concerned.


I'll step down to Daily and 4H next.......
Comment:
Hi MK

What means MODE?...i think you mesure something.
Allways courious about techniques - i love new knowledge and other views ;-)

Cheers!
Reply
Hi, Sorry for the delay in response. Had to manage some positions. MODE=The common price at which any market trades for a number of 'days' in a range. It's a powerful concept taught me by Mr Tim West, and IvanLabrie. I love how it assists me in identifying trending and non trending markets. Also, it assists me to visualise SUPPORT & RESISTANCE ZONES w/ ease. You'll gain a better understanding from the above mentioned masters in KEY HIDDEN LEVELS chatroom: https://www.tradingview.com/chat/#c8BzrhGRvXxGXWnJ
snapshot
Reply
moorekapital moorekapital
I made a mistake capturing the range, so I corrected in the above chart. It's a box that encompasses all days at THE MODE, from high to low.
Reply
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