Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
wow Nick. i had this and EURGBP drawn out almost the same way. FYI-- Your student here
GBPCHF
EURGBP
CommyTrades
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@Juniorgh, Literally had this drawn out like this too. Not really sure why the market has moved the totally opposite way on GBP/CHF today :(
Data_Block
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@jaykelly21 The central bank of Switzerland stepped in the market today to devalue CHF a little bit because it was starting to hurt their economy in the short term. I didnt take the trade because entry rules were not satisfied.
forexfactory.com/news/995257-swiss-franc-surging-too-quickly-a-major-risk
CommyTrades
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@Juniorgh, Thanks for that. Strange the headlines on the right hand side never showed any information about that. I got stopped out today and had no idea why because for me the technicals were lined up nicely. Guess i'll move onto another GBP pair. I assume you are a student of transparent?
Data_Block
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@jaykelly21, Yes I'm his student. Next time wait for a break of structure on 4hr and retest the structure. That is the reason i have those line. The wide lines are daily structures and the smaller dash lines are 4hr structures. They never broke so I never bothered entering. I never enter on the 1st move since markets almost always come back to entry prices. Cheers