ForceFollower
Long

GBPCHF Stair-Stepping

FX:GBPCHF   British Pound / Swiss Franc
Like with the famous Darvas boxes, this currency pair has been stair-stepping, while moving along the path of a modifed Schiff median line . Let's see what the next correction is going to look like. Its bottom is going to mark the buying opportunity. The sterling is currently overbought, but it's very strong. The Swiss franc             , on the other hand, is losing momentum and is relatively very weak.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice.
ForceFollower ForceFollower
Watching it from the opposite point of view, so that I know, if bears are still strong:
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I'm not bearish, but the worst case scenario always has to be taken into account.
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It dipped lower as the CHF strengthened. But based on the momentum cycles analysis, the sterling is oversold and quite likely to go up. So I stay long.
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It looks like an oportunity to go long now.
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Haha missed this trade this morning.. just seen Bullish Butterfly about 09:30 ish... Congrats
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