Fxprotrader
Long

GBPCHF: Price At A Level Where We Look For Buy Setup

FX:GBPCHF   British Pound/Swiss Franc
597 20 25
Price has retraced into a corrective structure, and is now testing the lower parallel of an upslope median line . It's consolidating at that level where we should watch for a buy setup based on our strategy. A good level to aim for tp is the lower quartile of the median line set. If your strategy indicates something else, follow its rules :)

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chachacallis
2 months ago
awesome, love the clear charts, what tools do you use for the lines?
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Fxprotrader PRO chachacallis
2 months ago
Simplicity is always great mate, not only in technical analysis :) I use median line (andrews pitchfork), trendlines, fibonacci, and rsi only for divergences..
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chachacallis Fxprotrader
2 months ago
i agree 100% that is what i have learnt. that is why i am drawn to your charts. trend lines are my number one tools.
+1 Reply
LoneFox PRO
2 months ago
Nice chart, I love the simplicity. Any comments on this chart (EURCHF, I am long biased)
snapshot
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Fxprotrader PRO LoneFox
2 months ago
Well, price is testing the trendline (maybe you need to refine it) so any buy setup based on your strategy at this level would be a good one. Thanks for sharing!
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Dguaman
2 months ago
Is this trade active Sir? thanks
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Fxprotrader PRO Dguaman
2 months ago
Price is at the buy level.. But we need a setup.. In my book i have no setup yet..
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Dguaman Fxprotrader
2 months ago
Sir, what you mean with a "setup" ... SL /TP plan? or a signal that show that is a Buy?
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Fxprotrader PRO Dguaman
2 months ago
A setup is a set of conditions which indicates what you are waiting for.. For expamle when you have analyzed that a market is about to go up, and your setups are candlestick formations, a bullish pinbar is what will make you go long. If let's say your setups are harmonics you should wait for a bullish gartley or cypher etc to complete. Remember that a setup has specific rules you need to follow..
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Dguaman Fxprotrader
2 months ago
Ok in this case the price just is at the buy level, but isnt in a buy condition yet? that is?...
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Dguaman Dguaman
2 months ago
Could be a triple bottom a buy setup?
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Fxprotrader PRO Dguaman
2 months ago
Yes a triple bottom is a good setup, if you know how to trade it.. I mean where to place stoploss, and when to enter..
+1 Reply
Dguaman Fxprotrader
2 months ago
Well i dont know really but also 1,28 its a 200MA in 4H
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Fxprotrader PRO Dguaman
2 months ago
MA's worth nothing in my opinion.
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Fxprotrader PRO Fxprotrader
2 months ago
Study wave patterns and harmonics.. Pure market geometry in these..
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Dguaman Fxprotrader
2 months ago
do you have a website, or recomendation?
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Fxprotrader PRO Dguaman
2 months ago
Yes a buy level based on my analysis in this timeframe.. Someone could look for sell in this market and waits for the right moment.. So for this chart, we wait for a buy setup..
+1 Reply
mustard Fxprotrader
2 months ago
Basically then, a buy setup is what? These comments are of no value to a beginner. You constantly try to cover your ideas with gibberish as far as new traders are concerned. What do you mean by 'you have analysed that a market is about to go up'? Or 'your setups are candlestick formations'? Please elaborate on YOUR original analysis and tell newcomers why YOU decided not to trade.
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4XHunter
2 months ago
Hey Mate...Just wondering if this is still valid? Can we Take a Long Position from here as the price moved to a very low level area?
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Fxprotrader PRO 4XHunter
2 months ago
No, price broke below that buy zone, so we don't need to chase it.. There was no buy setup completion in that zone and we didn't get involved.. We move on :)
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