mxxtrader
Short

GBPCHF 15m, possible sell setup ONLY if we break the correction!

FX:GBPCHF   British Pound / Swiss Franc
Hi all guys, i m not familiar with this pair i think it s the first time that i trade it! But two thing the first one i always post with lower TF cause i love see the structure and i can monitored the evolution of setup better but clearly i start my analysis from HTF such as weekly sometimes monthly and breakdown to the lower to see better the correction fase that is highlighted on LTH (lower time frame).
Now this analysis start from a key level around 1.30500 area that s the resistence that rejected the price recently and if we go back in 2016 for examle you can see what this resistence has done and how much is important! now in conflunce we ve break of the ascending channel we have formed a consolidation pattern and we ve break it also coming down! i m thinking that maybe new cycle is coming for this pair and gbp in general so no we wanna see as confirmation the break of the corrertion before going in without a clear break n retest there s no trade!!!
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Let s see and wait this one!
Comment: let s see if we confirm the channel or not
Comment: to confirm we wanna see this m30 candle closing in reversal!
Comment: the little channel hasn t work my bad also cause we was near a solid support anyway 20 pips loss for me stil alive lol i ll back next week stronger!!!
Comment: i will check again this one cause i stay bearish but i count that fundaamental is not in favour of this one CHF currency seems really dead and gbp seems still has buyers in his side probably for brexit coming and cause we can t know if inverstors will see this event as positive or as negative thing !
Comment: naaah totally wrong here let s back to eurusd thought!
Comment: was good but wrong timing i should had to wait the retest of the pattern!

Comments

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