Hi guys, today i want to bring this analysis i've made on GBPCHF. As you can see we're in a daily structure zone (blue rectangle) and price is having some difficulties breaking through. Actually it's created a nice double top with RSI divergence (down on the bottom) right at this level, that's also lining up with the 618 retracement and a psychological number (1,2600). Also, there's a Bat pattern that's just completed and it's a good confimation of the sell signal. Stops would go above X, targets as in the picture above.
If you want to share your view, or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Comment
⋅
I haven't shorted it yet. Don't like the last candle. Let's wait and see.
Hi, thanks for your set up. In deed many arguments to see some sell off. I have an open short trade on USDCHF, so I hope both of us will be right on a strong CHF. Cheers, Laurent
I love your analysis and posts, but my Ichimouku charts are giving me strong bullish signals this time around... lets wait and see what this does....
Roker1
⋅
Hey @Kullio, i appreciate your words, but i strongly suggest to follow your rules, if you're using Ichimoku that's a good strategy and you should stick with it. If you take a look at the trendline on the daily it was broken to the upside, so there's also a good potential there. I'm waiting to see the next candles anyway. Keep commenting whenever you want.