Here we have a GBPCHF long trade idea. If you like this idea please show your support!
This trade idea is based off the fact that the Pound (GBP) is reaching a weekly low since the end of September 2021. We are expecting some strength as this is approaching a structure level & this will give us a double bottom reversal pattern indicating...
swissy is trading near critical area again if the above scenario is correct we might see a wave 5 targeting 0.8500 again in the medium term.
lets wait for a reversal signal near this triangle resistance.
USD/CHF has been in a near-term downtrend since late September, now finding itself on a rising support range from the beginning of this year.
A bounce off the trendline could pave the way for a push higher back towards a long-term falling resistance line from April 2019.
Still, a bearish Death Cross seems imminent between the 20- and 50-period Simple Moving...
many traders out their when they look into the weekly chart of USDCHF find it attractive since it never bounced in a corrective manner nor impulsive, and i agree long term there is still more room to go up.
but short term i still see some pressure from the DXY on this pair and we might target 0.8500 level before turning bullish again!!
USDCHF might aim for S1 monthly support shall the ascending trendline break. For this criteria to meet, we need to see the daily candle pierce both the trendline and D EMA in the process. After this what is required is to assess the RR for this trade, if feasible we can enter a SHORT to target the S1 monthly pivot. The S1 Monthly pivot is also present in the same...
Expecting major positvity fundamentally to act as a catalyst to the anticipated bullish reversal within our current descending channel.
We would wait for BAR (Breakout and Retest) before scaling in with heavy lot sizes
USD/CHF broke above a bullish Falling Wedge chart pattern, extending gains towards the target of the breakout. This follows broad US Dollar gains in the aftermath of the Fed rate decision. Learn more about Falling Wedges via DailyFX.com here - www.dailyfx.com
A bullish crossover...
Entry Range: 0.89896 - 0.88857
Average Entry: 0.89164 (RRR: 1.91)
Stop Loss: 0.87765
Profit Target: 0.91860
-HOW TO ENTER MY TRADES-
1. Ladder your entries.
You'll want to ladder place your orders exponentially within the Entry Range to the point your RRR is atleast 1.5 if fully filled.
2. Only first touches are valid.
If price is rebounding back...
if daily candle closes under previous daily support i will look for the retracement to continue down to next daily support. If it closes ABOVE, i will look for a continuation to our buy target which is our weekly zone and fibonacci expansion zone. im bullish on this pair but each green line (daily zones) could be small pullbacks.
Buy from current and 1.0660, stop 1.0571, target 1.1255
Shopping from weekly commercial interests.
The risk is 70% of the total.
Stop for a cluster of monthly volume.
I will close 50% of the position at 1.0965